Through its UK Branch, Standard Chartered has made it possible for institutional clients, such as corporations, investors, and asset managers, to trade Bitcoin and Ethereum on the spot using a fully integrated digital asset service.
Through familiar foreign exchange (FX) interfaces, clients will be able to access and trade cryptocurrency assets. The UK’s Financial Conduct Authority, which has a sophisticated institutional-grade risk control function to reassure clients that a strong risk management system is in place, has also registered Standard Chartered as a crypto asset service provider.
According to Tony Hall, Global Head of Trading and XVA, Markets, at Standard Chartered, they are applying their global expertise, infrastructure and risk management frameworks that their clients trust to the digital assets space.
“With growing interest in regulated digital assets solutions, we are well-positioned to meet client needs while capturing the opportunities in this space.” he continued.
Buyers and sellers of cryptocurrencies can get the relevant item and the money almost instantly or quickly through spot trading.
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According to cryptocurrency data aggregator CoinGecko, the worldwide market capitalization of cryptocurrencies has surpassed $4 trillion, a significant milestone that highlights the cultural realignment of crypto assets in the global financial system.
In July of this year, three significant cryptocurrency laws that passed the House the same month propelled Bitcoin to its highest point ever—$120,851.91 per Bitcoin. The following day, the GENIUS Act was passed into law, containing the Anti-Central Bank Digital Currency Surveillance State Act and the Digital Asset Market Clarity Act.
The pro-crypto Trump administration has spearheaded the perceptual change in the financial world surrounding crypto assets. With the establishment of the Strategic Bitcoin Reserve and the US Digital Asset Stockpile in March, the administration has made institutions reconsider their positions on digital assets.
