Standard Chartered Becomes First Major Bank to Launch Bitcoin and Ether Spot Trading for Institutions

Standard Chartered has broken new ground by launching a U.S. dollar-based spot trading service for Bitcoin and Ethereum, targeting institutional players such as asset managers, corporates, and professional investors. The move makes it the first globally systemically important bank to offer fully regulated and deliverable crypto spot trading.

Announced on Tuesday, the new service is operated through Standard Chartered's UK branch and is seamlessly integrated with its existing FX platforms. Clients can trade and settle their crypto transactions using custodians of their choice—including the bank’s own regulated custody platform. The service promises institutional-grade compliance, risk frameworks, and FCA oversight.

“Digital assets are now core to the transformation of financial services,” said Group CEO Bill Winters. “We’re enabling our clients to engage with this asset class safely, within a trusted regulatory framework.”

The launch is part of the bank's broader digital asset strategy, which already includes investments in Zodia Custody and Zodia Markets, as well as the blockchain tokenization platform Libeara. The move also comes as institutional crypto adoption accelerates globally, with banks like JPMorgan and Charles Schwab exploring similar initiatives.

Standard Chartered’s crypto desk reportedly began taking shape in mid-2024, and Tuesday’s rollout aligns with the bank’s stated commitment to bridging traditional finance and digital assets. Tony Hall, Global Head of Trading and XVA – Markets, emphasized the use of existing infrastructure and risk protocols: “We’re applying the same standards our clients rely on in traditional markets to digital assets.”

As crypto gains traction among corporate treasuries and ETF flows increase, the bank's internal research projects Bitcoin to reach $135,000 by Q3 and $200,000 by year-end. Ether, while included in the trading desk, is expected to lag in setting new highs.

With this development, Standard Chartered takes a leading role in shaping how large institutions can securely and compliantly enter crypto markets.