• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

StanChart setting up spot crypto trading desk for Bitcoin and Ether

1 year ago
in Cryptocurrency, Economy, Features, highlights, Home, home-news, latest News, Markets, Technology
1 min read
0 0
0
93
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

StanChart setting up spot crypto trading desk for Bitcoin and Ether

Standard Chartered Plc is setting up a trading desk for Bitcoin and Ether, people familiar with the matter said, making it one of the first global banks to enter spot cryptocurrency trading.

The new crypto desk is close to starting operations and will be part of the bank’s FX trading unit, two of the people said, asking not to be named discussing private information. It will be run from London, according to one person.

Banks including Goldman Sachs Group Inc. have been trading cryptocurrency derivatives for years, but strict regulations have kept them from dealing directly in the underlying assets. The Basel Committee on Banking Supervision has proposed that banks must apply a 1,250% risk weighting to any unhedged crypto exposure, making it difficult to generate profits.

“We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability,” the bank said in an emailed statement.

A Standard Chartered spokesperson declined to comment further.

Standard Chartered is among several large banks pushing deeper into crypto as institutional adoption of the asset class widens. It owns stakes in two crypto firms, Zodia Custody and Zodia Markets, which offer services ranging from custody to over-the-counter trading.

RelatedPosts

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors

Copper Price Rises on Mine Struggles, Goldman Bull Flag

BoG Governor Unveils Four-Pillar Strategy to Build an Innovative and Resilient Financial System

In November, it launched a blockchain unit called Libeara to help institutions tokenize traditional assets. The unit is supporting the creation of a tokenized government bond fund using the Singaporean dollar.

The latest move comes as Bitcoin’s volatility has been subdued, down more than 20% since the start of 2024 — mirroring developments in equities markets and squeezing profits at trading desks. Bitcoin fell to the lowest since May 15 on Friday morning in London and is down about 14% from its March record.

Even so, the wildly successful launch of US Bitcoin exchange-traded funds in January have boosted liquidity in cryptocurrency markets and given large institutions more confidence to push into digital assets.

Source: bloomberg
Via: norvanreports
Tags: BitcoinEtherStanChartStanChart setting up spot crypto trading desk for Bitcoin and Ether
No Result
View All Result

Highlights

Lands Minister Revokes 278 Small-Scale Mining Licenses

UK Bans Lewis Hamilton and Chelsea FC Gambling Ads for Targeting Children

GSE Closes Thursday’s Session Lower as Composite Index Falls by 0.82%

BoG’s Director of Fintech and Innovation, Kwame Oppong, Exits Central Bank After Spearheading Major Fintech Reforms

Black Queens Cruise to 3-0 Victory Over Egypt in WAFCON Qualifier

Five Key Storylines to Follow Ahead of the 2025 Mexico City Grand Prix

Trending

Features

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors

October 24, 2025

“Make your money, but please bring it and invest locally,” Tony Elumelu tells African investors Nigerian business...

Copper Price Rises on Mine Struggles, Goldman Bull Flag

October 24, 2025
Governor of the Bank of Ghana (BoG), Dr Johnson Asiama,

BoG Governor Unveils Four-Pillar Strategy to Build an Innovative and Resilient Financial System

October 24, 2025

Lands Minister Revokes 278 Small-Scale Mining Licenses

October 24, 2025

UK Bans Lewis Hamilton and Chelsea FC Gambling Ads for Targeting Children

October 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.