Standard Chartered, together with Coinbase, has announced the expansion of their strategic collaboration on digital assets, aiming to further explore the sector.
As part of this initiative, Standard Chartered and Coinbase will go into developing trading, prime services, custody, staking, and lending solutions for institutional clients.
The news comes just a few short months after Standard Chartered announced the launch of a fully integrated and secure digital assets trading service. Through this, the bank sought to provide spot crypto asset trading for corporates, investors, and asset managers.
Fully integrated with Standard Chartered’s existing platforms, the offering was planned to enable institutional clients to access and trade crypto assets by using familiar FX interfaces. Clients and users could also settle with their choice of custodian, including Standard Chartered’s secure digital assets custody solutions.
Diving deeper into digital assets
By utilising Standard Chartered’s experience as an international cross-border bank and digital asset capabilities and Coinbase’s institutional platform, the partnership seeks to bring a comprehensive digital asset solution offering for institutional clients across the world, delivering a simplified and secure experience for both trading and managing digital assets.
The current move comes as an extension of the existing partnership between Standard Chartered and Coinbase in Singapore, where the former offers banking connectivity that supports real-time SGD transfers for the latter’s customers.
Expanding on the development, Margaret Harwood-Jones, Global Head, Financing & Securities Services, Standard Chartered, stated that the growing relationship with Coinbase advances the financial institution’s ability to create secure and compliant digital asset solutions for institutional investors. By merging their capabilities, the two organisations plan to explore how they can facilitate secure, transparent, and interoperable solutions that meet security standards at a high level.
Adding to this, Brett Tejpaul, Co-CEO, Coinbase Institutional, emphasised that the collaboration comes as a step forward in offering institutional-grade digital asset solutions. By working together, Standard Chartered and Coinbase seek to advance the financial ecosystem and allow institutions to benefit from new opportunities in this ever-evolving market.
