Standard Chartered, the renowned British bank, is reportedly preparing to launch a trading desk for Bitcoin (BTC) and Ethereum (ETH) in London. According to anonymous sources cited in a Bloomberg report, the financial services giant is entering the world of spot market crypto trading. Although no specific date was mentioned, the sources indicate that the new desk is nearing its launch and will be integrated into the bank’s foreign exchange trading service.

In an email to Bloomberg, Standard Chartered stated, “We have been working closely with our regulators to support demand from our institutional clients to trade Bitcoin and Ethereum, in line with our strategy to support clients across the wider digital asset ecosystem, from access and custody to tokenization and interoperability.” This move follows Standard Chartered’s launch of Libeara, a blockchain platform aimed at aiding companies in tokenizing real-world assets.

Earlier this year, analysts at Standard Chartered revised their price prediction for Bitcoin in 2025, increasing it by 50% due to the success of spot market Bitcoin exchange-traded funds (ETFs) approved by regulators in January. Analyst Geoff Kendrick noted in a message to investors that the bank has raised its 2025 price target for Bitcoin from $100,000 to $150,000.

As of the time of writing, Bitcoin is trading at $64,132, representing a 1.55% decrease in the last 24 hours. Standard Chartered’s foray into the crypto trading world reflects the growing interest and acceptance of digital assets in the financial industry.