Looks like the traditional banking world is finally embracing the wild crypto ride! Standard Chartered has just teamed up with digital assets prime broker FalconX to beef up its crypto services for institutional investors. This isn't just another partnership, it's a game-changer. FalconX is now tapping into Standard Chartered's impressive banking infrastructure and FX prowess to give its clients a smoother ride into the digital asset world.
First stop? Singapore. After that, the partnership will spread like wildfire across Asia, the Middle East, and even the U.S. It’s all about ramping up the global crypto presence, one market at a time.
Matt Long, the General Manager for APAC & Middle East at FalconX, couldn’t be more excited. According to him, this deal is about delivering “robust banking and FX solutions to clients who rely on us to operate in crypto markets.” Sounds like FalconX is ready to go all in on crypto with this boost.
Standard Chartered’s Big Crypto Bets
And guess what? This is FalconX’s first big dance with a global traditional bank. It's happening at a time when institutional crypto interest is soaring, thanks to the U.S. approving spot Bitcoin ETFs last year and a surge in global regulatory efforts.
Standard Chartered, no stranger to crypto ambition, is eyeing a massive $10 trillion crypto market by 2026. And they’re not just sitting back, this bank is making moves. From launching crypto custody services in the UAE to setting up a digital asset subsidiary in the EU, they're all in. And let’s not forget the partnership with OKX that allows institutional clients to use crypto as collateral. Talk about a power play.
For FalconX, this partnership is an even bigger deal, reinforcing its position in the global crypto space. Headquartered in San Mateo, California, FalconX is already trusted by major hedge funds, sovereign wealth funds, and asset managers. And they've processed a mind-blowing $1.5 trillion in crypto trades across 400 tokens. No big deal, right?
With heavy hitters like GIC, Wellington Management, and Tiger Global backing them up, FalconX was valued at $8 billion in its last funding round. And let’s not forget their recent acquisition of crypto derivatives firm Arbelos Markets. The crypto world is buzzing about what they’ll do next.
Oh, and in case you missed it, FalconX even made headlines in March with the first block trade of Solana futures on CME Group before the contract launch. They're not just in the game; they're leading it.
HODL Team
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