Standard Chartered Jumps Into Crypto: Launches Bitcoin & Ethereum Spot Trading

Wall Street's latest crypto convert just placed its bet.

Standard Chartered—the 160-year-old banking giant—quietly flipped the switch on spot trading for Bitcoin and Ethereum this week. No press releases, no CNBC fanfare—just a functional dashboard for institutional clients to swap fiat for crypto.

The move makes them the first UK bank to offer direct crypto access without ETF proxies or futures contracts. Traders get real BTC/ETH pairs with the bank's liquidity muscle behind them.

Behind the scenes: Compliance teams reportedly greenlit the service after 18 months of 'blockchain hygiene' audits. The bank's crypto custody partner remains unnamed—likely some startup charging $1M/month for 'military-grade' cold storage.

Why now? Observers point to BlackRock's ETF inflows sucking up BTC like a institutional vacuum cleaner. When Larry Fink starts mooning, even conservative banks feel FOMO.

One cynical take: After missing the 2021 bull run, StanChart's playing catch-up before regulators slam the door. Because nothing screams 'sound banking' like chasing volatile assets at all-time highs.

Key Insights:

• Standard Chartered is the first global bank to offer regulated Bitcoin and Ethereum spot trading to institutions.
• Clients can access the service through existing FX platforms with familiar interfaces.
• Trades can be settled through preferred custodians or the bank’s custody services.

Standard Chartered has launched direct spot trading for Bitcoin (BTC) and Ether (ETH) through its UK branch.

The new service will target institutional clients and will provide regulated access to the crypto market under Asia and European trading times.

Standard Chartered Regulated Spot Trading for Digital Assets

Standard Chartered, as reported by Reuters, has launched a new service that enables institutional customers to trade with Bitcoin and ethereum using its UK-based entity.

According to the announcement, it will be connected to other existing platforms of foreign exchange (FX) trading. It would allow its customers to execute crypto trades in systems with which they are accustomed to using.

This step makes Standard Chartered the first global systemically bank to offer deliverable spot trading on these top digital assets.

According to the bank, the offering supports settlement through a custodian of the client’s choice. It also includes the option to use the bank’s internal custody services. This infrastructure ensures that transactions can be settled securely under regulatory oversight.

Rene Michau, Global Head of Digital Assets at the bank, confirmed the target audience includes asset managers, corporates, and institutional investors.

Demand from Institutions Drives Expansion Into Crypto Markets

The MOVE to launch spot trading is prompted by accelerating demand as more institutions look to access digital assets via credible banking partners.

Firms are seeking methods to venture into crypto markets but still comply with financial regulations. Moreover, with the crypto market soaring recently and bitcoin hitting an all-time high of $123K, firms are increasing their interest.

Standard Chartered CEO Bill Winters stated,

The bank has announced that non-deliverable forwards (NDFs) for BTC and ETH will be added in future phases. A move to 24/5 trading access is also under review based on client needs.

New Offering Builds on Prior Digital Asset Activity

Standard Chartered has been active in digital finance through its investment in Zodia Custody and Zodia Markets. It offers infrastructure for asset security and trading.

Notably, these platforms support the bank’s broader efforts in digital asset services.

In April, the bank partnered with exchange platform OKX to test a new collateral management program. This pilot allows institutions to use tokenized money market funds and crypto assets as collateral while maintaining control through off-exchange custody.

The program is operating under Dubai’s VIRTUAL Asset Regulatory Authority. Besides, it is managed through Standard Chartered’s branch in the Dubai International Financial Centre (DIFC).

This initiative supports risk reduction for large clients by removing the need to place collateral directly on exchanges. It also aids in enhancing the operational security.

Launch Coincides With Global Developments in Crypto Regulation

The rollout of Standard Chartered’s spot trading service aligns with wider regulatory discussions happening globally. Today marks the second day of the U.S. House of Representatives’ first-ever “Crypto Week,” where lawmakers are discussing new digital asset legislation.

While the bank’s crypto trading is currently limited to its UK branch, industry activity in the U.S. and other markets signals increased attention toward institutional crypto adoption.

Moreover, yesterday, Grayscale, on the back of increased interest in digital assets, filed for IPO with the US SEC.

Subsequently, Standard Chartered has stated that its focus will remain on Bitcoin and Ethereum for now. However, it plans to expand its crypto services based on market demand and regulatory developments in key financial centers.