Standard Chartered and Coinbase are expanding their partnership to develop trading, custody, and funding services targeting the growing institutional client market.
Standard Chartered and Coinbase have announced an expansion of their strategic alliance to build a comprehensive suite of cryptocurrency infrastructure solutions for institutional clients. The announcement , made on Friday, stated that the two companies will jointly develop products ranging from trading and prime services to custody, Staking , and digital asset lending.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, emphasized that the collaboration aims to create secure, transparent, and highly interoperable solutions that meet stringent security and compliance standards.
This partnership combines Standard Chartered's strengths in cross-border banking and custody expertise with Coinbase's specialized crypto asset technology platform, aiming to provide a secure digital asset trading and management environment for institutions.
Expanding from the Singapore platform.
This move follows an established relationship in Singapore, where Standard Chartered is providing banking connectivity to Coinbase, enabling the exchange's customers to make real-time Singapore dollar transfers.
Last year, Standard Chartered also partnered with Crypto.com to launch a global retail banking service, supporting users in over 90 countries to trade USD, euros, and UAE dirham through its mobile app.
The expanded partnership comes as Coinbase prepares to announce new products next week, which are expected to include a prediction market and Tokenized Stocks. These moves reflect the US's largest exchange's strategy of diversifying its product offerings to attract both individual and institutional investors.
On the same day the partnership was announced, the U.S. Office of the Comptroller of the Currency (OCC) conditionally approved applications for national trust bank charters for five companies operating in the digital asset sector.
The list includes BitGo, Fidelity Digital Assets, and Paxos – entities planning to convert their current state-licensed trusts into national trust banks. Notably, Circle and Ripple are also among the newly approved applicants.
