Breaking Crypto News – Exploring the Potential Benefits of Standard Chartered Trading Desk
Breaking Crypto News – A trading desk for Ether and Bitcoin may be in the works at multinational bank Standard Chartered. The bank would be among the first international financial institutions to offer spot cryptocurrency trading if this were to be implemented.
The crypto desk is scheduled to launch on June 21, according to a report by Bloomberg. According to a rumor citing unnamed insiders, the service will be run out of London, United Kingdom, and fall under the purview of the bank’s FX trading section.
We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability.
The Standard Chartered representative
The Community Welcomed This Possible Development
The action has not been confirmed by Standard Chartered, but the cryptocurrency community applauded the possible advancement. According to an X user, the action might be a “significant step” and a key validation of cryptocurrency’s increasing acceptability. Moreover, the user thinks this could encourage uptake and bolster investor confidence.
Similar to the previous comment, another user stated that the new development may lead to more acceptability of BTC and ETH trading in the general public. The global bank was welcomed into the cryptocurrency space by Binance CEO Richard Teng, who was on X at the time.
FAQ
What is a Trading Desk?
A space set aside for the sale and purchase of particular items in a bank, investment business, or trading floor is called a trading desk. For the FX, fixed income, commodities, and equity markets, many institutions have different trading desks.
What Does the Company Standard Chartered Do?
The company offers services such as wealth management, Islamic banking, private banking, e-banking, investment consulting, transactional banking, and mergers & acquisitions counselling.
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