FalconX and Standard Chartered Forge Crypto Alliance—Banks Finally Wake Up to Digital Assets
In a move that proves even legacy finance can’t ignore crypto forever, institutional trading platform FalconX partners with banking giant Standard Chartered. The collaboration aims to bridge TradFi liquidity with digital asset markets—better late than never for the suits.
Why it matters: This isn’t just another custody play. The duo’s infrastructure could unlock seamless crypto-fiat integration for corporates, albeit with the usual KYC hurdles Wall Street loves.
The cynical take: Watch how fast banks embrace blockchain when they realize they’re missing out on fees. Suddenly, ’volatile’ and ’risky’ assets look mighty profitable when clients demand exposure.
FalconX Joins Forces with Banking Giant
The collaboration will see FalconX leverage Standard Chartered’s established banking infrastructure and foreign exchange capabilities, enabling more streamlined access to digital assets for its institutional clientele. This partnership marks FalconX’s first formal collaboration with a global traditional bank, reflecting the growing appetite for digital assets within institutional finance.
Initially targeting clients in Singapore, the initiative will gradually expand to other regions, including the Middle East and the United States.
Strengthening Institutional Access to Crypto
The deal arrives against the backdrop of increasing regulatory clarity and the approval of spot Bitcoin ETFs in the United States, which have collectively spurred a surge in institutional participation in crypto markets.
Matt Long, General Manager, APAC & Middle East at FalconX, highlighted the significance of the alliance, stating,
“We are pleased to partner with Standard Chartered, one of the most forward-thinking global banks in digital asset adoption. At FalconX, we support trading and financing for some of the world’s largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets.”
Standard Chartered’s Growing Digital Assets Ambitions
Standard Chartered, which has been steadily expanding its digital asset footprint, views this partnership as a natural extension of its long-term strategy. The bank forecasts the overall value of digital assets to grow to $10 trillion by 2026, driven by increasing institutional demand and maturing infrastructure.
In recent years, Standard Chartered has taken several steps to establish itself as a significant player in the crypto and digital asset sector. These initiatives include launching crypto custody services in the UAE, setting up a dedicated digital asset subsidiary within the European Union, and forming a partnership with crypto exchange OKX to allow institutional clients to post digital assets as collateral. Notably, in 2023, it became one of the first major global banks to launch spot trading desks for Bitcoin and Ethereum.
Luke Boland, Head of Fintech, ASEAN, South Asia & GCNA at Standard Chartered, said,
“Our collaboration with FalconX underscores our commitment to advancing the digital asset ecosystem. As institutional demand for digital assets continues to grow, we’re proud to provide the banking infrastructure that enables firms like FalconX to deliver world-class trading and financing solutions to institutional clients.”
Market Outlook
The alliance comes amid a broader institutional pivot towards digital assets, catalyzed by favorable regulatory developments and shifting investor sentiment. The global crypto market briefly crossed a $3 trillion market capitalization in November following the election of crypto-friendly Donald Trump as US president, further fueling expectations of sustained sector growth.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
