Standard Chartered PLC (LSE:STAN) is launching a cryptocurrency trading desk, making it one of the first global lenders to offer spot trading of digital currencies.
Both Bitcoin and Ether will be available for trade and will be part of the London-listed bank's foreign exchange trading division, reports on Friday from the Evening Standard revealed.
Goldman Sachs and other major banks have offered trading for crypto derivatives, but lenders have found difficulty in offering to deal in the underlying asset due to regulations.
“We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability," Standard Chartered said.
The London bank has previously invested in crypto companies such as Zodia Custody and Zodia Markets, which offer services such as safeguarding and trading assets.
Back in November, it launched a blockchain arm called Libeara to help organisations tokenize more common assets.