Traditional financial institutions are increasingly showing interest in venturing into the crypto sector amid growing client demand.
In this line, banking giant Standard Chartered is particularly expanding its crypto involvement by planning to offer spot trading services for Bitcoin (BTC) and Ethereum (ETH), Bloomberg reported on June 21.
This move will make Standard Chartered, which controls over 800 billion in assets, the first major global bank to establish a spot crypto trading desk. Bloomberg, citing individuals familiar with the matter, noted that the bank will incorporate trading into its FX unit, which will have operations based in London.
ChatGPT-4o Bitcoin price prediction. Source: ChatGPT-4o
Meanwhile, Bitcoin is battling overall bearish sentiments, having corrected by almost 4% in the last 24 hours to trade at $63,609 by press time.
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