Source: Cointelegraph
Original: “Standard Chartered Partners with FalconX to Expand Institutional Cryptocurrency Banking Services”
Global financial institution Standard Chartered has further strengthened its banking support for the cryptocurrency industry by forming a new strategic partnership with cryptocurrency prime broker FalconX.
According to the strategic partnership officially announced on May 14, Standard Chartered will provide a comprehensive suite of banking services to FalconX's global institutional clients.
As a key aspect of this collaboration, FalconX will integrate Standard Chartered's banking infrastructure and provide its institutional clients with access to a diverse range of currency pairs.
The official announcement stated that the ultimate goal of this partnership is to expand into a broader range of products and mutually beneficial opportunities.
This collaboration is expected to "break through the boundaries of banking," expanding into more diversified products and services to meet the growing demand for crypto assets from FalconX and Standard Chartered's institutional clients.
Both parties stated that the joint services will target a wide range of client groups, including asset management companies, hedge funds, token issuance organizations, and payment platforms.
Matt Long, General Manager of FalconX for the Asia-Pacific and Middle East regions, commented that Standard Chartered is "one of the most forward-looking global banks in the field of digital asset adoption."
He stated, "At FalconX, we provide trading and financing support to some of the world's top institutions in the digital asset market, and this partnership enhances our ability to deliver robust banking and foreign exchange solutions to clients who rely on us to operate in the crypto market."
Luke Boland, Head of Fintech for South Asia at Standard Chartered, stated that the partnership with FalconX demonstrates the bank's commitment to improving the digital asset ecosystem.
Boland emphasized in the announcement, "As institutional demand for digital assets continues to grow, we are proud to provide banking infrastructure that enables companies like FalconX to deliver world-class trading and financing solutions to institutional clients."
Standard Chartered's latest cryptocurrency initiative is another important strategic deployment of the bank's banking services for the crypto industry.
In April of this year, Standard Chartered partnered with major cryptocurrency exchange OKX to pilot cryptocurrency and tokenized fund collateral services for institutional investors.
The bank's involvement in the cryptocurrency industry dates back to 2016 when Standard Chartered made a strategic investment in Ripple, the company behind the XRP cryptocurrency.
The banking industry's growing commitment to cryptocurrency aligns with the expectations of industry executives from organizations including Messari and Sygnum Bank, who predict that, driven by favorable regulatory developments, the global banking industry will make a large-scale entry into the Bitcoin (BTC) space in the second half of 2025.
Related: McHenry: Former SEC Chair Gary Gensler Supports Cryptocurrency in Private Settings
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