GS - Standard Chartered To Launch Bitcoin Ethereum Trading Desk As ETF Outflows Continue | Benzinga
Standard Chartered Plc is reportedly establishing a trading desk for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), according to sources familiar with the matter.
What Happened: This move positions Standard Chartered as one of the first global banks to enter the spot cryptocurrency trading arena.
The new crypto desk, which will operate from London as part of the bank's FX trading unit, is close to commencing operations, according to Bloomberg.
Banks such as Goldman Sachs Group Inc. (NYSE:GS) have been involved in trading cryptocurrency derivatives for years.
However, stringent regulations have prevented them from directly dealing in the underlying assets.
The Basel Committee on Banking Supervision has proposed that banks must apply a 1.250% risk ...