U.Today – As Bloomberg reports, banking giant Standard Chartered (OTC:) may be close to launching a dedicated shopping center for and , according to sources close to the matter. This bold move positions Standard Chartered as one of the pioneering global banks for instant cryptocurrency trading.
The upcoming crypto desk is nearing operational readiness and is expected to become an integral part of the bank’s foreign exchange (FX) trading division. The initiative, shrouded in secrecy, was shared by people who prefer to remain anonymous due to the confidentiality of information.
The cryptocurrency trading desk, which will be managed from London, will be a significant shift towards digital assets for Standard Chartered, a bank with a affluent history in established finance. The move signals that the bank has recognized the growing importance of cryptocurrencies in the global financial landscape.
Standard Chartered is one of several leading banks expanding their tentacles into cryptocurrency as institutional operate increases. It invests in two cryptocurrency companies, Zodia Custody and Zodia Markets, which provide services ranging from depository to over-the-counter trading.
In recent Bitcoin news, Australia’s largest share exchange listed its first Bitcoin (BTC) exchange-traded fund (ETF) on Thursday as global demand for an uncomplicated way to invest in cryptocurrencies grows.
The VanEck Bitcoin ETF () has started trading on the Australian Stock Exchange (ASX), which accounts for 90% of the country’s share market.
Last day, Michael Saylor, CEO and co-founder of MicroStrategy, stated that the company had acquired an additional 11,931 BTC for approximately $786 million, using convertible bond proceeds and excess cash of almost $65,883 per bitcoin. MicroStrategy currently has 226,331 BTC purchased for approximately $8.33 billion at an average price of $36,798 per Bitcoin.
