Standard Chartered Financial News

Standard Chartered’s crypto subsidiary Zodia Markets is reportedly in talks to acquire the over-the-counter (OTC) business of Elwood Capital.

Crypto exchange WazirX has appointed Zodia Custody as its official custodian ahead of its operational restart. Zodia Custody, backed by major financial institutions including Standard Chartered, Northern Trust, and SBI Holdings, will provide secure asset management solutions for WazirX users. Zane Suren, Managing Director, Commercial, MEA at Zodia Custody, stated, «Zodia Custody is proud to partner with WazirX for their much-anticipated relaunch. Providing our knowledge of supporting institutional clients and commitment to a compliance-first approach, we will empower WazirX and its users to seamlessly engage with digital assets in a way that protects their capital and complies with local regulation.»

Standard Chartered Bank is planning to offer a spot trading desk for Bitcoin and Ethereum to enable direct spot trading of cryptocurrencies, according to an insider. This latest development aligns with the multinational bank’s huge interest in the crypto market.

Marathon Digital has selected Standard Chartered-backed digital asset custodian Zodia Custody to safeguard its crypto holdings.

British multinational bank Standard Chartered expects Ethereum (ETH) to outperform Bitcoin (BTC) after spot ETFs for the former are approved by regulators in May of this year.

Standard Chartered Bank has predicted a significant surge in Bitcoin‘s value, reaching up to $200,000 in 2025 following potential spot Bitcoin exchange-traded fund (ETF) approvals.

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Zodia Custody, the crypto security firm owned by British banking giant Standard Chartered, is expanding its services to Hong Kong. Zodia Custody’s foray into Hong Kong marks its latest stride into the Asia-Pacific region after announcing plans to expand into Singapore last month.

Deutsche Bank and Standard Chartered’s venture arm SC Ventures are exploring a solution that aims to enable seamless communication between blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs).

cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered, its latest prediction of rocketing crypto prices. Ether may hit $8,000 over the next two years as it becomes more widely used in blockchain-based covenants known as «smart contracts,» as well as gaming and the «tokenisation» of traditional assets, StanChart Head of FX Research, West, Geoff Kendrick wrote. Ether was trading on Wednesday at about $1,575. Assessing the value of cryptocurrencies is fraught with difficulty, as tokens such as ether or bitcoin that are not backed by traditional assets lack the gauges used to price stocks, bonds or currencies. The price of crypto tokens are generally driven by the sentiment of investors.

Zodia Custody, a Standard Chartered Bank-owned crypto entity, is bringing yield on digital assets to institutional clients in partnership with Singapore-based digital asset platform developer, OpenEden.

Zodia Custody, a subsidiary of Standard Chartered, has officially launched its digital asset custody services for financial institutions in Singapore. 

HSBC and Standard Chartered are among lenders facing pressure from Hong Kong's banking regulator to take on crypto exchanges as clients, the Financial Times reported on Thursday, citing three people with knowledge of the matter. The UK-based lenders and the Bank of China were questioned by the Hong Kong Monetary Authority (HKMA) last month on why crypto exchanges were not being accepted as clients, according to the report. Standard Chartered is in regular dialogue with regulators on different subjects, it said in an emailed statement to Reuters, declining to comment further on the FT report. HSBC and the HKMA did not immediately respond to a Reuters request for comments.

bitcoin could reach $100,000 by the end of 2024, Standard Chartered said on Monday, saying that the so-called "crypto winter" is over. Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the U.S.

Singapore move funds to and from accounts via local banks, smoothing one path to investing in digital assets at a time when markets are on edge over financial stability and crypto banking. Transfers, in Singapore dollars, are facilitated by a traditional bank, Standard Chartered, and carry no fee, the company said in a statement. Previously, users could only purchase crypto via a Visa or Mastercard debit or credit card, or transfer crypto in and out of their Coinbase account. Hassan Ahmed, Coinbase's country director for Singapore, told Reuters in an interview the move was part of the company's international expansion strategy. Rivals Crypto.com and Gemini already offer a similar service. Coinbase, which last year received in-principle approval from the Monetary Authority of Singapore (MAS) to offer payment services in the city-state, is looking to ramp up its Singapore retail offerings, said Ahmed.