Standard Chartered uses Falconx to expand access to cryptocurrencies for institutional customers
Standard Chartered accelerates its entry into digital assets through a newly announced alliance with Falconx, a prime broker for institutional crypto dealers.
The partnership presented on May 14 gives Falconx access to the bank's global infrastructure and deepens its foreign exchange skills.
Die Cooperation is more than a traditional bank agreement and laid the foundation for extended services that are tailored to the changing needs of institutional crypto actors. The two companies are planning to develop solutions for fund managers, payment platforms, token emitters and other large actors who enter the digital asset.
Matt Long from Falconx described the bank as a rare example of a traditional financial institution that is closely aimed at the needs of the cryptocurrency industry, while Luke Boland von Standard Chartered emphasized the commitment of his company for the support of trustworthy access for institutions in the crypto sector.
For Standard Chartered, this is not the first advance in the area of digital assets. The bank recently launched a pilot project for a tokenized security program with OKX and has been active in this sector almost a decade ago since its early investment in Ripple.
Since traditional financial companies are increasingly targeting the crypto front, this latest partnership reflects a broader change: global banks no longer sit on the sidelines, but build the infrastructure to meet the increasing demand from institutional investors.
