Standard Chartered Breaks New Ground with Institutional Crypto Trading

Standard Chartered has launched direct spot trading for Bitcoin (BTC) and Ethereum (ETH), becoming the first major global bank to offer deliverable crypto trades to institutional clients.

The UK-based lender now allows asset managers, corporates, and other large investors to buy and sell BTC and ETH directly through its existing FX trading infrastructure. 

Unlike derivative-based exposure, these trades are settled with actual crypto assets, and clients may choose their preferred custodian, including the bank’s in-house custody solution. Trading will initially operate during Asian and European market hours, with possible expansion to round-the-clock service depending on demand. 

The bank also confirmed plans to add non-deliverable forwards (NDFs) for both crypto assets. These are basically contracts to bet on the future price of an emerging currency without having to do any swapping whatsoever.

Related: RBA Kicks Off Phase Two of Project Acacia with Wholesale CBDC and Tokenisation Trial

We are applying our global expertise, infrastructure and risk management frameworks that our 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.

Tony Hall, Global Head of Trading and XVA, Markets, at Standard Chartered.

The spot trading launch is part of a broader crypto strategy for the bank. Earlier this year, it established a Luxembourg-based crypto custody unit for EU clients. It also partnered with Animoca Brands and HKT to develop a Hong Kong dollar-pegged stablecoin, entering into tokenisation and stable-value infrastructure.

Standard Chartered Moves Forward with Crypto Asset Offering

This is quite the step for Standard Chartered. Few banks have enabled clients to execute and settle crypto trades through existing banking infrastructure, and most have limited exposure to crypto through ETFs or custody partnerships.

This week, the US House of Representatives is expected to advance multiple crypto bills as part of what lawmakers are calling “crypto week”. At the same time, France’s Societe Generale became the first major global bank to issue a dollar-pegged stablecoin.

Related: Bitcoin Drops Below $120K as Analysts Reveal What’s Next After the All‑Time High