3 weeks ago
Global slope Standard Chartered has beefed up its banking enactment to the cryptocurrency manufacture by inking a caller concern with the crypto premier broker FalconX.
Standard Chartered volition supply a broad suite of banking services to FalconX’s planetary organization clients pursuing a strategical partnership, the companies announced connected May 14.
As portion of the collaboration, FalconX volition initially integrate Standard Chartered’s banking infrastructure and entree to a scope of divers currency pairs for its organization clients.
The concern yet aims to see a broader scope of offerings and communal opportunities, the announcement noted.
Crypto enactment beyond banking
The concern is expected to “expand beyond banking” into further products and services designed to conscionable the evolving crypto request from some FalconX and Standard Chartered’s organization clients.
The associated services volition people a wide scope of clients, including plus managers, hedge funds, token issuers and outgo platforms, the companies said.
Matt Long, FalconX’s wide manager of APAC and Middle East, referred to Standard Chartered arsenic “one of the astir forward-thinking planetary banks successful integer plus adoption.”
“At FalconX, we enactment trading and financing for immoderate of the world’s largest institutions successful integer plus markets, and this narration strengthens our quality to present robust banking and FX solutions to clients who trust connected america to run successful crypto markets,” helium stated.
SC is arrogant to supply banking services to crypto firms
Standard Chartered’s collaboration with FalconX underscores the bank’s dedication to improving the integer plus ecosystem, Luke Boland, the bank’s South Asia caput of fintech, said.
“As organization request for integer assets continues to grow, we’re arrogant to supply the banking infrastructure that enables firms similar FalconX to present world-class trading and financing solutions to organization clients,” Boland stated successful the announcement.
Standard Chartered’s latest crypto determination comes arsenic yet different effort by the slope to supply banking services to the crypto industry.
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In April, Standard Chartered partnered with large crypto speech OKX to aviator cryptocurrency and tokenized money collaterals to organization investors.
The bank’s engagement successful the cryptocurrency manufacture dates backmost to 2016, erstwhile Standard Chartered made a strategical concern successful Ripple, a institution down the XRP (XRP) cryptocurrency.
The increasing banking committedness to crypto comes successful enactment with expectations by executives of large manufacture firms, including Messari and Sygnum Bank, who forecasted a planetary banking propulsion into Bitcoin (BTC) successful the 2nd fractional of 2025 amid favorable regulatory developments.
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