Standard Chartered Is First Systemic Bank to Offer Spot Crypto

Standard Chartered Plc said it’s the first global systemically-important bank to offer a spot crypto trading service, allowing corporate and institutional clients to buy and sell Bitcoin and Ether.

While some of its rivals have steered clear of crypto currencies, Standard Chartered Chief Executive Officer Bill Winters said on Tuesday that digital assets were becoming a “foundational” part of the world’s financial system.

“As client demand accelerates further, we want to offer clients a route to transact, trade and manage digital asset risk safely and efficiently with regulatory requirements,” Winters said in a statement.

The bank will initially offer spot ...