Global banking powerhouse Standard Chartered is set to introduce a spot trading desk for Bitcoin and Ether, making it one of the first prominent banks to provide direct spot trading services for Bitcoin.

Bloomberg reports that the new Bitcoin trading desk, based in London, will begin operations shortly and will be integrated into the bank's FX trading unit. 

Standard Chartered has maintained a favorable stance on Bitcoin for several years and is now acting to accommodate the rising institutional demand.

A spokesperson from Standard Chartered stated, "we have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ether."

The bank already offers Bitcoin and cryptocurrency custody services through its investment in Zodia Custody and is also a backer of Zodia Markets, which handles institutional Bitcoin and cryptocurrency trading. 

This new trading desk marks the next step in Standard Chartered's Bitcoin strategy.

This development coincides with the approval and launch of Bitcoin ETFs in major markets such as the U.S., U.K., Hong Kong, and Australia. As institutional interest grows, banks recognize the need to adapt to stay competitive.

Standard Chartered's introduction of direct Bitcoin trading services highlights the increasing mainstream acceptance of Bitcoin.

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