Standard Chartered, a prominent British bank, is reportedly set to introduce a cryptocurrency trading desk focused on Bitcoin (BTC) and Ethereum (ETH) in London. According to anonymous sources cited in a Bloomberg report, the financial services giant will enter the spot market crypto trading sector. Although no specific launch date was mentioned, insiders claim that the desk is nearing completion and will be integrated into the bank’s foreign exchange trading service.
Standard Chartered confirmed its foray into the crypto space in an email to Bloomberg, stating, “We have been collaborating closely with regulators to meet the demand from our institutional clients to trade Bitcoin and Ethereum. This aligns with our strategy of supporting clients across the broader digital asset ecosystem, ranging from access and custody to tokenization and interoperability.”
In 2020, the bank unveiled Libeara, a blockchain platform designed to aid companies in tokenizing real-world assets. Earlier this year, Standard Chartered analysts revised their 2025 price prediction for Bitcoin by 50% due to the successful launch of spot market Bitcoin exchange-traded funds (ETFs) approved by regulators in January. Analyst Geoff Kendrick stated in an investor note that the bank is raising its 2025 price target for Bitcoin from $100,000 to $150,000.
As of the time of writing, Bitcoin is trading at $64,132, representing a 1.55% decline in the past 24 hours.
Please note that the opinions expressed in this article are not financial advice, and investors should conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Transfers and trades are executed at the individual’s own risk, and any resulting losses are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. The Daily Hodl may participate in affiliate marketing initiatives.
