Standard Chartered Enters Crypto Market with Bitcoin and Ethereum Trading Service

Standard Chartered has launched its Bitcoin and Ethereum spot trading service for corporate clients in the United Arab Emirates (UAE), marking a significant move into the cryptocurrency market.

The bank, which is the first global bank to offer direct cryptocurrency spot trading to institutional clients in the Gulf country, aims to expand access to traditional financial infrastructure for institutional investors.

Standard Chartered's Head of Digital Asset Research, Geoff Kendrick, highlighted Solana's strong position in the stablecoin market, stating that it handles about one-fifth of the $7 trillion worth of transactions processed monthly via stablecoins.

Kendrick noted that low transaction costs and high transaction capacity are key factors enabling the network to stand out in stablecoin and micro-payment applications.