Standard Chartered Makes a Big Move into Bitcoin, Ethereum
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| By Beth Canova Reviewed By: Dawn Pennington |
Standard Chartered (SCBFY, “B”) — one of the world's largest international banks — just announced that it expanded its partnership with the trading platform 24X.
The goal?
Make it easier for institutions to trade Bitcoin (BTC, “B+”) and Ethereum (ETH, “B+”).
24X says this move now makes it one of a select few global platforms that offer both crypto spot and foreign exchange (FX) trading on a single, unified technology infrastructure.
At first glance, this may sound like just another deal between two financial firms.
But look closer.
The real news isn't just that a major bank is adding crypto services. It's that Bitcoin and Ethereum are moving closer to the same financial system that handles stocks, currencies and other assets.
And that reveals a deeper trend that is bullish for long-term crypto investors.
A New Way for Big Money to Trade Crypto
On Nov. 10, 24X announced that it had expanded its partnership with Standard Chartered to include Bitcoin and Ethereum prime brokerage services.
Prime brokers give large investors access to markets, credit and other financial services.
Right now, if a hedge fund wants to buy $50 million worth of Bitcoin, it has to:
- Open accounts at several crypto exchanges,
- Move money between them, and
- Manage the risks of dealing with each one.
Not surprisingly, funds want a simpler way to trade.
That's where 24X and Standard Chartered come in.
Under the new deal, large investors will be able to access Bitcoin and Ethereum trading through 24X …
But with Standard Chartered as their central counterparty.
The bank now becomes the main financial partner on the front end. And 24X facilitates the trade behind the curtains.
That could make it easier … and potentially far more appealing … for large funds and financial firms to enter the crypto market.
After all, most are already familiar with London-based Standard Chartered.
And a familiar financial system is critical when it comes to courting cash from Wall Street.
Why This Move Matters
For years, it was incredibly difficult to trade crypto.
A single mistake — an incorrect address, trading on the wrong network, etc. — could mean you’d lose your funds forever.
That’s a tough ask for a small investor. For big investors, the risks aren’t often worth the potential rewards.
But slide a recognizable user interface (24X) between the blockchain and an investor …
Then add a bank (Standard Chartered) with centuries of experience to help facilitate those trades …
And suddenly, crypto becomes more accessible to the “big guys.”
That’s thanks to the simple concept of trust.
The crypto system was designed intentionally to be trustless.
That is, you don’t need to know or trust whoever is on the other side of your transaction.
That may work for your individual Bitcoin trades. But large financial firms have strict rules about where they can trade and who they can do business with.
A New ‘Standard’ of Trust
Wall Street and other institutions need strong risk controls, reliable trading systems and trusted financial partners.
Standard Chartered helps address some of those concerns.
The bank already works with major institutions around the world. And it has spent years building its digital asset business.
In July, for example, Standard Chartered announced that it had completed its first live digital asset prime brokerage trades with LMAX Group.
The bank tested how crypto trading could work with the same credit checks, risk controls and settlement systems used in traditional finance.
Now, the 24X deal takes that effort a step further.
It's another sign that Standard Chartered sees digital assets as a long-term business.
And it isn't alone.
Banks, asset managers and other large financial firms have spent the past few years building ways to trade, hold and invest in crypto.
The message is clear: Crypto is no longer a market that Wall Street can afford to ignore.
Which is why some of Wall Street’s biggest names are building their own crypto access.
Related Story: NYSE Picks Avalanche (AVAX) for Tokenized Stocks as Wall Street Goes All In on Crypto
Of course, this doesn't mean BTC or ETH is set to soar tomorrow.
The new 24X agreement doesn't include a public forecast for trading volume or the amount of money institutions will invest.
Nor does easier access by big-money firms automatically translate into more buying. It can also make it easier for large firms to sell or hedge their positions.
And, of course, macro forces and crypto’s own cycles are more likely to impact near-term price than a single headline.
At least, they do in crypto’s maturing market.
Related Story: The Bear Market Low Is In, According to 4 Key Bitcoin Signals
But the long-term trend is worth watching.
Every time a major bank makes crypto easier to trade, it removes one more hurdle that has kept large pools of capital on the sidelines.
That doesn't guarantee higher prices. But it does make the market more accessible.
For much of its history, crypto has operated outside the banking system.
Traditional banks handled stocks, bonds and currencies.
Crypto exchanges handled Bitcoin and other digital assets.
But those lines are starting to blur.
Standard Chartered's new partnership brings Bitcoin and Ethereum into a platform that already handles traditional financial products.
That's a small change in how trades are made.
But it's a big change in how crypto fits into the financial world. One that could help support wider adoption over time.
There are still risks, of course.
- Crypto prices remain volatile.
- Banks face strict rules.
- And digital asset trading still carries security, custody and counterparty risks.
Even a major bank can't remove all those risks.
But today's deal suggests the industry is building the tools needed to address them.
Don't Judge Crypto's Future by Price Charts Alone
Rather than watch Bitcoin and Ethereum to see whether the smart money starts to pile in, we have a better idea.
After all, one banking deal isn't enough to predict the next big crypto rally. And the new partnership has yet to show how much fresh capital it might bring into the market.
Instead, pay attention to who's building the systems that make digital assets easier to use.
Because when big banks like Standard Chartered expand their crypto services, it isn’t just to make headlines …
It's to build infrastructure for clients who demand access to a growing asset class.
For long-term investors, that's an encouraging sign.
Which is why you’ll want to keep both crypto leaders on your watchlist.
If you're building a long-term crypto portfolio, focus on your risk limits and investment plan rather than chasing a single headline.
And if you’re a trader who likes to jump into the market’s quick moves, I hope you’ll join my colleague Juan Villaverde for his urgent crypto briefing this afternoon at 2 p.m. Eastern.
That’s where he’ll break down what his Crypto Timing Model sees in the coming months. And how you can benefit from its specific “buy” and “sell” signals to beat a simple buy-and-hold strategy.
That’s a major advantage in your crypto toolkit. It's free to attend. Just click here right before 2 p.m. Eastern to join.
Because the next stage of crypto adoption may not start with a sudden price spike that everyone will notice.
It may start with major banks quietly making digital assets part of everyday finance.
Best,
Beth Canova
