Standard Chartered Bank Reportedly Working on Bitcoin and Ether Trading Desk

Standard Chartered, a multinational bank, is reportedly gearing up to launch a Bitcoin (BTC) and Ether (ETH) trading desk, according to a recent report by Bloomberg. This move would position the bank as one of the first global banking institutions to venture into spot crypto trading.

The crypto desk is said to be set to operate under the bank’s FX trading unit from London, United Kingdom. While Standard Chartered has neither confirmed nor denied the report, they did acknowledge the growing demand from their institutional clients to trade BTC and ETH.

Members of the crypto community have welcomed the potential development, with some viewing it as a significant step towards mainstream acceptance of cryptocurrencies. Binance CEO Richard Teng even extended a warm welcome to the multinational bank’s foray into the crypto space.

In a related development, multinational bank Goldman Sachs has also noted a resurgence of interest in crypto assets among its clients. This renewed interest is attributed to the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States earlier this year.

As traditional financial institutions like Standard Chartered and Goldman Sachs continue to explore opportunities in the crypto space, the industry is poised for further growth and adoption. Stay tuned for more updates on this evolving story.