Standard Chartered has made history by becoming the first global systemically important bank (G-SIB) to launch deliverable spot trading for bitcoin (BTC) and ethereum (ETH), a major milestone in the adoption of digital assets by traditional finance.
The UK-based bank announced that the new trading service will allow institutional clients—corporates, asset managers, and other large investors—to trade bitcoin and ethereum directly through its UK branch.
The trades will be settled with actual digital assets, not just derivatives or exposure through funds.
This puts Standard Chartered at the forefront of regulated bitcoin trading, offering a secure, compliant platform for clients — a service few traditional banks have dared to provide.
“We are applying our global expertise, infrastructure and risk management frameworks that our clients trust to the digital assets space,” said Tony Hall, Global Head of Trading and XVA at Standard Chartered.
“With growing interest in regulated digital assets solutions, we are well-positioned to meet client needs while capturing the opportunities in this space.”
Standard Chartered’s entry into spot bitcoin trading is big because it’s not just any bank — it’s a G-SIB, meaning it’s considered critical to the global financial system. G-SIBs are subject to strict regulations because of the risk their failure could pose to the economy.
The fact that a bank of this size and stature is now offering real, deliverable bitcoin trading is a major shift in how digital assets are viewed by traditional financial institutions. Bill Winters, Standard Chartered’s Group Chief Executive, said:
“Digital assets are a foundational element of the evolution in financial services. They’re integral to enabling new pathways for innovation, greater inclusion and growth across the industry.”
The spot trading service is fully integrated with Standard Chartered’s existing trading platforms and uses the same infrastructure as its foreign exchange (FX) services. This means clients can access bitcoin markets through familiar tools.
Clients can also choose their preferred custodian, including Standard Chartered’s own custody solution and Zodia Custody, an affiliated digital asset custodian. This gives clients flexibility and confidence in how their bitcoin is stored.
The bank already backs Zodia Custody and Zodia Markets, two companies that offer digital asset services such as over-the-counter (OTC) trading and custody of over 70 digital assets.
Initially, trading will be available during Asia and European market hours, with potential expansion to 24/5 access based on client demand. Trades are settled in U.S. dollars, making it easier for global investors.
This is part of a broader digital asset strategy that includes trading, custody, tokenization and even stablecoin development.
Standard Chartered has also launched a regulated custody service for bitcoin and ethereum in the UAE and Luxembourg and is developing a Hong Kong dollar-pegged stablecoin with Animoca Brands and HKT.
The bank has been working on this since at least June 2024, and is registered with the UK’s Financial Conduct Authority (FCA) as a crypto asset service provider (CASP).
No Comment! Be the first one.