In short
- The partnership starts in Singapore, with plans to expand to the US and the Central East.
- Standard Chartered continued to scale and act in the past year crypto operations.
- Falconx strives for strategic expansion in institutional crypto markets.
Standard Chartered works together with digital assets Prime Brokerage Falconx in a deal aimed at strengthening crypto services for institutional investors.
Falconx said in a statement that it makes use of the bank infrastructure of Standard Chartereded and foreign exchange options to streamline access to digital assets for its institutional customers.
It will initially be aimed at customers in Singapore before it spreads to other parts of Asia, the Midden -East and the US
Matt Long, General Manager, APAC and Midden -East at Falconx, said that the relocation would strengthen the ability of his company to “deliver robust bank and FX solutions to customers who are confident to operate in crypto markets.”
The announcement marks the first partnership of Falconx with a worldwide traditional bank in the midst of a broader wave of institutional interest in crypto, partly driven by the approval of spot Bitcoin ETFs in the US last year and an increased momentum in efforts to regulate industry worldwide.
Standard Chartered, which expects the crypto market to swell up to $ 10 trillion by 2026, gambles great on the long-term growth of the sector.
Under his initiatives, they launch crypto guardianship services in the VAE, to set up A new subsidiary of the digital assets in the EU can offer custody and collaborate with OKX to enable institutional customers to place crypto as collateral.
In 2023 it was one of the first global benches to launch SpotCrypto -Handelsbureau for Bitcoin and Ethereum.
For Falconx, the move strengthens its status on the world markets while the racet to meet the institutional demand. The company, with head office in San Mateo, California, has large hedge funds, sovereign wealth funds and asset managers among its customers.
So far, it claims to have processed more than $ 1.5 trillion on crypto transactions over 400 tokens.
Supported by GIC, Wellington Management and Tiger Global, was appreciated at $ 8 billion in his last financing round. It recently took over Crypto derivatives company Arbelos Markets.
In March, it executed The first block trade of Solana Futures on CME Group before the launch of the contract.
Edited by Sebastian Sinclair
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