Standard Chartered Opens UK Branch for Institutional Crypto Trading
The financial giant Standard Chartered is set to enable institutional clients to directly trade bitcoin and ethereum on its existing platforms, with plans to introduce non-deliverable forwards for digital assets soon.
Surging Demand, Shifting US Policy Drive Expansion
Standard Chartered has announced it will enable institutional clients to directly trade bitcoin ( BTC) and ether ( ETH) through its United Kingdom (U.K.) branch, marking it as the first so-called global systemically important bank (G-SIB) to offer such direct cryptocurrency services.
According to a Reuters report, Standard Chartered confirmed on July 15 that institutional clients globally will gain access to spot crypto trading via its existing platforms. The bank also said it plans to introduce non-deliverable forwards (NDFs) trading in digital assets soon.
The baking services giant’s expansion comes as financial institutions report accelerating client demand for crypto products bolstered by bitcoin‘s recent record highs. The perceived pro-crypto stance from both U.S. President Donald Trump and the U.S. Congress is increasingly compelling financial institutions to fundamentally reconsider their engagement with digital assets.
This marks a notable pivot from the previous Biden administration, under which financial institutions often faced regulatory uncertainty and implicit discouragement from developing or offering crypto-related services. The current political climate, signaling a potentially more favorable regulatory landscape, is now prompting these institutions to actively explore, and in some cases, rapidly expand their crypto offerings to meet burgeoning client demand and remain competitive in a rapidly evolving financial ecosystem.
Prior to the latest move, Standard Chartered was already providing digital asset services through its independent subsidiary companies, Zodia Markets and Zodia Custody. Zodia Markets, in particular, offers clients access to trading in more than 70 crypto assets.
“As client demand accelerates further, we want to offer clients a route to transact, trade, and manage digital asset risk safely and efficiently within regulatory requirements,” stated Bill Winters, Chief Executive of Standard Chartered.
Meanwhile, Standard Chartered’s decision also aligns with a nascent trend among other major financial players. Some U.S. banks, which previously shunned the sector, are reportedly holding internal discussions about expanding their crypto offerings. In June, France’s Societe Generale became the first major bank globally to launch a dollar-pegged stablecoin.
