Standard Chartered launches institutional spot crypto trading in UAE

Sept 3 : Standard Chartered said on Thursday it had launched cryptocurrency spot trading in bitcoin and ether for institutional clients in the United Arab Emirates, becoming the first global systemically important bank to offer the service in the Gulf country.Here are the details: • The bank said eligible institutional clients can access deliverable bitcoin and ether spot trading through its electronic trading channels.• Ether spot trading allows investors to buy and sell ether, the native cryptocurrency of the Ethereum blockchain, for immediate delivery rather than through derivatives contracts. • The service is integrated into Standard Chartered's existing platforms, allowing clients to execute crypto-asset trades through foreign exchange interfaces, it said.• The launch expands the bank