Standard Chartered launches spot crypto market-making
Bitcoin and ethereum to trade off the bank’s FX desk, but questions remain on capital treatment
Standard Chartered has launched a spot crypto trading business, making it the first bank to go live with a spot crypto market-making offering for clients – though it’s unclear exactly how the firm is dealing with the regulatory capital challenges of trading cryptocurrencies.
The new crypto trading operation will be operated from the UK bank’s London-based foreign exchange platform, whereby asset managers, corporates and institutional clients can access US dollar/bitcoin and US dollar/ethereum
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