Standard Chartered Becomes First Major Bank to Launch Crypto Spot Trading

Standard Chartered has launched spot trading services for Bitcoin and Ether, becoming the first global systemically important bank to offer deliverable cryptocurrency trading to institutional clients. The service went live Tuesday through the bank's UK branch, targeting corporates, investors, and asset managers, the bank announced in a statement.

The move represents a significant step in traditional banking's embrace of digital assets, as major financial institutions have largely avoided direct cryptocurrency trading due to regulatory uncertainty and compliance concerns. Standard Chartered's entry signals growing institutional confidence in the regulatory framework surrounding crypto assets.

Standard Chartered's position as the first major bank to offer deliverable crypto spot trading could provide a competitive advantage as other institutions evaluate similar services. The bank's regulatory standing and existing institutional relationships may appeal to clients who have been hesitant to use crypto-native trading platforms.

The trading platform integrates with Standard Chartered's existing foreign exchange interfaces, allowing institutional clients to access cryptocurrency markets through familiar trading systems. Clients can settle trades through their choice of custodian, including Standard Chartered's own digital assets custody service launched earlier this year.

Group Chief Executive Bill Winters described digital assets as "a foundational element of the evolution in financial services," emphasizing their role in enabling innovation and growth across the industry. The bank is positioning the service as a response to accelerating client demand for regulated cryptocurrency solutions.

Standard Chartered operates as an FCA-registered cryptoasset service provider, giving clients the regulatory assurance that has been lacking in many existing crypto trading platforms. The bank's approach leverages its institutional-grade risk controls and balance sheet capabilities to address concerns about counterparty risk that have limited institutional crypto adoption, Standard Chartered said.

Tony Hall, global head of trading and XVA (X-value adjustment) at Standard Chartered, said the bank is applying its global expertise and risk management frameworks to the digital assets space. The offering aims to remove barriers that institutional clients face when entering cryptocurrency markets, particularly around regulatory compliance and operational risk.

The service initially covers Bitcoin (XBT/USD) and Ether (XET/USD) spot trading, with plans to introduce non-deliverable forwards trading in the near future. This expansion into derivatives would provide institutional clients with additional tools for hedging and risk management in cryptocurrency markets.

Standard Chartered's crypto trading launch builds on its existing digital asset capabilities, including custody services and investments in ventures like Zodia Custody, Zodia Markets, and tokenization platform Libeara.

The timing coincides with increased institutional interest in cryptocurrency following regulatory clarity in key markets and the success of Bitcoin and Ethereum ETFs. Traditional financial institutions have been gradually expanding their crypto services as client demand grows and regulatory frameworks become more defined.