Standard Chartered Provides Direct Bitcoin and Ethereum Trading Through UK Branch, Plans to Deploy NDF Contracts for Digital Assets.
Standard Chartered has announced that it will allow institutional clients to directly trade Bitcoin and Ethereum through its UK branch, becoming the first bank in the global systemically important financial institutions (G-SIB) group to provide direct crypto services. This move marks an important transformation in the traditional banking sector's integration of digital assets into its core service system.
According to information from Reuters on July 15, Standard Chartered confirmed that global institutional clients will be able to access spot crypto trading through the bank's existing platforms. Additionally, the organization is planning to deploy Non-Deliverable Forwards (NDFs) trading for digital assets in the near future, significantly expanding the crypto derivative product range for institutional clients.
This expansion occurs against the backdrop of many financial institutions noting a surge in client demand for digital asset products, especially after Bitcoin recently established a new historical price peak. A more crypto-friendly perspective from President Donald Trump and the US Congress is causing financial institutions to seriously reconsider their approach to the digital asset field.
Policy Shift Promotes Banking Sector Participation
This move marks a notable shift compared to the Biden administration period, when financial institutions often faced an unclear legal environment and were implicitly restricted in developing or providing crypto-related services. The current political context with signals of a more feasible and favorable legal environment is prompting many financial institutions to proactively research and even accelerate crypto service deployment to meet growing client demands.
Previously, Standard Chartered had provided digital asset services through two independent subsidiaries, Zodia Markets and Zodia Custody, with Zodia Markets allowing clients to trade over 70 types of encrypted assets. CEO Bill Winters stated: "As client demand continues to grow rapidly, we want to provide them with a safe and efficient path for digital asset trading, management, and risk control, within the framework of legal compliance."
Standard Chartered's decision reflects an emerging trend in large financial institutions. Some US banks that previously avoided this field are now organizing internal meetings to consider expanding crypto services. In June, Societe Generale of France became the first major global bank to issue a US dollar-pegged stablecoin, indicating that the European banking sector is leading in adopting blockchain technology and digital assets into core business operations.
