Standard Chartered, Coinbase Expand Crypto Prime Services for Institutions
TL;DR
Standard Chartered and Coinbase have expanded their partnership to develop institutional crypto services including trading, prime services, custody, staking and lending. The collaboration builds on their existing Singapore banking connectivity for real-time SGD transfers.
Key Takeaways
- •Standard Chartered and Coinbase are expanding their partnership to develop institutional crypto services including trading, prime services, custody, staking and lending
- •The collaboration builds on their existing Singapore partnership where Standard Chartered provides real-time SGD transfer capabilities for Coinbase customers
- •Coinbase is gaining institutional trust, with JPMorgan recently bringing its JPM Coin deposit token to Coinbase's Base blockchain
- •The partnership aims to create secure, transparent and compliant solutions for institutional clients
- •Tokenization of real-world assets is growing, with projections suggesting an $18.9 trillion market by 2033
What to know:
- The enhanced partnership builds on the existing tie-up between Standard Chartered and Coinbase in Singapore.
- Standard Chartered provides banking connectivity that enables real-time Singapore dollar transfers for Coinbase’s customers.
- The enhanced partnership builds on the existing tie-up between Standard Chartered and Coinbase in Singapore.
- Standard Chartered provides banking connectivity that enables real-time Singapore dollar transfers for Coinbase’s customers.
Cryptocurrency exchange Coinbase (COIN) and crypto-friendly bank Standard Chartered (STAN) said they expanded a partnership on digital assets to explore the development of trading, prime services, custody, staking and lending products for institutional clients.
The deal builds on the existing tie-up between the two companies in Singapore, where Standard Chartered provides banking connectivity that enables real-time Singapore dollar transfers for Coinbase’s customers, according to a press release.
Coinbase is becoming more of a trusted name among institutions, including banks, as time goes on, not least with the recent news that JPMorgan (JPM) brought its JPM Coin deposit token to Base, the layer-2 blockchain of the U.S. exchange.
“We aim to explore how the two organisations can support secure, transparent and interoperable solutions that meet the highest standards of security and compliance,” Margaret Harwood-Jones, Standard Chartered's global head of financing and securities services, said in the statement.
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