Standard Chartered has become the first major global bank to offer direct spot cryptocurrency trading services, beginning with Bitcoin and Ethereum paired against the US dollar. Launched on July 15, 2025, the service is targeted at institutional clients such as corporates, asset managers, and investors. The bank plans to expand its offerings to include non-deliverable forwards in the near future. This move underscores the growing integration of cryptocurrencies into mainstream finance and the increasing demand among traditional financial institutions for crypto-related services.
The initiative follows a surge in cryptocurrency popularity, spurred in part by the pro-crypto stance of U.S. President Donald Trump. Under his administration, enforcement against crypto companies has eased, and supportive legislation is being considered. The Securities and Exchange Commission has significantly reduced enforcement actions against crypto companies, dropped lawsuits, and encouraged digital asset legislation to be pushed ahead. This regulatory shift has created a more favorable environment for financial institutions to engage with digital assets.
Standard Chartered's move is significant as it marks the first time a major bank has provided direct trading access to cryptocurrencies. While other banks have offered crypto-linked investment funds, none have previously offered spot crypto trading directly to clients. The bank aims to offer a secure, regulated environment for clients to manage digital assets, utilizing existing platforms used for forex trading and allowing clients to choose their custodians.
This development builds on Standard Chartered's prior involvement in the crypto space through its backing of Zodia, a crypto trading and custody business. The bank's entry into direct crypto trading reflects a broader trend of traditional financial institutions embracing digital assets. As cryptocurrencies become more mainstream, banks are seeking ways to offer services that meet the evolving needs of their clients.
The launch of Standard Chartered's crypto trading services is expected to have a significant impact on the cryptocurrency market. It may encourage other major banks to follow suit, leading to increased institutional participation in the crypto space. As more traditional financial institutions enter the market, the legitimacy and acceptance of cryptocurrencies are likely to grow, potentially leading to greater price stability and mainstream adoption.
