Standard Chartered embraces Bitcoin with THESE latest client offerings

Key Points

1. Standard Chartered is the first global tier-1 bank to offer Bitcoin and Ethereum spot trading for institutional clients, integrating it with existing FX interfaces.

2. The bank plans to add derivatives for these crypto assets soon, expanding its crypto offerings.

3. Standard Chartered already provides crypto services through subsidiaries Zodia Markets and Zodia Custody, with Zodia Markets supporting over 70 crypto assets.

4. CEO Bill Winters highlighted the new offerings as enabling innovation and greater inclusion in the financial sector.

5. The U.S. has approved spot BTC and ETH ETFs, further integrating cryptocurrencies into mainstream finance, with altcoin ETFs and staking expected in 2025.

6. Spot BTC ETFs now manage $150 billion in net assets, contributing to the crypto market's growth from $1.6 trillion to $3.7 trillion.

7. Standard Chartered's move may influence other major banks like Citi, Goldman Sachs, and HSBC to expand their crypto services.