A significant rumor is making waves in the crypto community. Standard Chartered, a British bank, is reportedly set to open a trading window for its customers to buy and sell the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
Trading counter for cryptocurrencies
According to Bloomberg, the bank’s FX trading unit is launching a trading desk in London. This marks a significant step for the bank, as it will offer customers the ability to trade in digital currencies directly, rather than just offering derivative products.
The bank has worked closely with regulators to meet the demand of its large institutional clients, which reportedly included the possibility of trading in Bitcoin and Ethereum.
The move has generated excitement among crypto enthusiasts on social media, with many seeing it as a significant step towards increasing the legitimacy and adoption of cryptocurrencies.
Binance CEO Richard Teng has also welcomed the bank to the world of crypto, and some speculate that this move could encourage other traditional financing institutions to enter the crypto market.