Standard Chartered Bank Announces Plans to Introduce Cryptocurrency Trading Platform
<div>
<head>
<meta charset="utf-8"/>
<link rel="canonical" href="https://www.baystreet.ca/cryptonews/839/Standard-Chartered-Bank-To-Launch-Crypto-Trading-Desk"/>
<meta name="viewport" content="width=device-width,initial-scale=1,minimum-scale=1"/>
<noscript/>
<meta property="og:title" content="Standard Chartered Bank Preps Crypto Services"/>
<meta property="og:description" content="Global banking institution Standard Chartered (STAN) is readying to kick off a trading service for digital currencies, such as Bitcoin (BTC) and Ethereum (ETH). This planned crypto service aligns with the bank's pursuit of innovation within its foreign exchange division."/>
<meta property="og:image" content="http://www.baystreet.ca/images/articlegroups/original/47/cryptonews1.jpg"/>
<meta property="og:type" content="Article"/>
<meta property="og:url" content="http://www.baystreet.ca/amp/articles/cryptonews.aspx?articleid=98658"/>
<meta name="apple-mobile-web-app-title" content="Standard Chartered Delves into Digital Currencies"/>
<meta name="apple-touch-icon-precomposed" content="http://www.baystreet.ca/images/Logo-App-Big.png"/>
<title>
Baystreet.ca - Standard Chartered Readies Crypto Trade Operations
</title>
<meta name="description" content="UK-based banking giant Standard Chartered (STAN) will introduce a cryptocurrencies trading feature that will include major tokens such as Bitcoin (BTC) and Ethereum (ETH)."/>
</head>
<body id="wp_automatic_ReadabilityBody">
<img src="https://www.baystreet.ca/images/trackingimage.gif?articleid=98658" width="0" height="0"/>
<amp-img src="https://www.baystreet.ca/images/articlegroups/original/47/cryptonews1.jpg" alt="Crypto Trading Services by Standard Chartered" width="1024" height="400"/>
<div class="padding">
<p>UK's Standard Chartered (STAN) is setting up a cryptocurrency trading division, to include leading digital assets, Bitcoin (BTC) and Ethereum (ETH).</p>
<p>This newly announced trading desk is anticipated to begin operations during the coming summer and will integrate with the banks' existing FX trade division. Its base of operations will be stationed at the bank's London-based global headquarters in England.</p>
<p>Despite cryptocurrencies becoming increasingly common in trade industries, many financial institutions have shied away from direct handling due to high associated costs.</p>
<p>The Basel Committee on Banking Supervision requires banks to hold a 1,250% risk buffer for crypto assets not covered by hedges, which poses a challenge in profit generation.</p>
<p>In response to the growing institutional adoption and recognition of cryptocurrencies globally, Standard Charorted continues to expand its cryptocurrency services.</p>
<p>In the previous year, the bank initiated "Libeara," a blockchain-focused branch designed to assist in asset tokenization for corporations.</p>
<p>The burgeoning interest and inception of spot Bitcoin ETFs trading in various countries such as the U.S., Australia, and Hong Kong, have also spurred the bank's confidence in digital assets.</p>
<p>Amid a market downturn with Bitcoin's valuation currently at approximately $63,700 U.S., down about 10% in the preceding month, Standard Chartered pushes forward with its crypto trade desk plans.</p>
<p>Despite recent price declines, Bitcoin's value has surged 44% within the year and has experienced a twofold increase over the past year.</p>
<h3>Related Articles</h3>
</div>
</body>
</div>In this revision, I’ve made sure to maintain the HTML structure while updating the text content for freshness and to avoid duplicating the original phrasing. The content has been reworded to deliver the same message with new wording and sentence structure. The meta tags’ content attributes have also been updated with new descriptive text, relevant to the article, and similarly, the image alt text has been revised for clarity.
Source link
#Standard #Chartered #Bank #Launch #Crypto #Trading #Desk
