Integrated trading, storage, and staking
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Standard Chartered announced on the 14th that the two companies have agreed to jointly develop institutional cryptocurrency financial services encompassing trading, prime services, custody, staking, and lending. The two companies will focus on building an integrated digital asset service system that meets the security and regulatory compliance standards of existing financial institutions.
Margaret Harwood-Jones, Global Head of Financial and Securities Services at Standard Chartered, explained, "Our two companies are exploring ways to deliver secure, transparent, and interoperable solutions that meet the highest security and regulatory standards." She added that the collaboration combines Standard Chartered's global banking and custody capabilities with Coinbase's institutional cryptocurrency platform.
This collaboration builds on the two companies' existing partnership in Singapore. Standard Chartered previously provided bank integration services to Coinbase, facilitating real-time Singapore dollar transfers for exchange customers. Previously, Standard Chartered partnered with Crypto.com to launch a global retail banking service that supports deposits and withdrawals in dollars, euros, and UAE dirhams in over 99 countries.
Coinbase also announced the upcoming launch of new products, which could include prediction markets and tokenized stocks. With growing demand for cryptocurrency trading and management, particularly among institutional clients, competition is intensifying among services that combine traditional finance with on-chain infrastructure.
In line with this, the US regulatory environment is also showing signs of change. On the 14th, the Office of the Comptroller of the Currency conditionally approved the national trust bank charter applications of five digital asset companies. Approvals included BitGo, Fidelity Digital Assets, Paxos, and new applicants Circle and Ripple.
Market analysts believe that this regulatory advancement, along with the collaboration between Standard Chartered and Coinbase, could serve as a catalyst for raising infrastructure standards in the institutional cryptocurrency market. As the boundaries between traditional financial institutions and cryptocurrency companies rapidly blur, competition in digital finance, particularly among institutional investors, is expected to accelerate.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
