Standard Chartered is accelerating its move into digital assets through a newly announced alliance with FalconX, a prime broker serving institutional crypto traders.
The partnership, unveiled May 14, will give FalconX access to the bank’s global infrastructure and deepen its currency trading capabilities.
More than a traditional banking agreement, the collaboration lays the groundwork for expanded services tailored to the evolving needs of institutional crypto participants. The two firms plan to co-develop solutions that cater to fund managers, payment platforms, token issuers, and other large-scale players entering the digital asset economy.
FalconX’s Matt Long described the bank as a rare example of a legacy financial institution aligning closely with crypto-native needs, while Standard Chartered’s Luke Boland emphasized their commitment to supporting trusted access points for institutions navigating the crypto space.
This isn’t Standard Chartered’s first foray into digital assets. The bank recently piloted a tokenized collateral program with OKX and has been active in the sector since its early investment in Ripple nearly a decade ago.
As traditional finance firms increasingly eye the crypto frontier, this latest partnership reflects a broader shift: global banks are no longer sitting on the sidelines—they’re building the infrastructure to meet rising institutional demand.
Bank of America is actively developing a stablecoin offering, CEO Brian Moynihan revealed during a post-earnings conference call on Wednesday.
PayPal has expanded its stablecoin, PayPal USD (PYUSD), to the Arbitrum network, marking a key step in its strategy to integrate with faster, more cost-efficient blockchain infrastructure.
Citigroup is evaluating the potential launch of its own U.S. dollar-backed stablecoin, signaling a growing shift in sentiment among traditional financial institutions toward digital assets.
JPMorgan Chase CEO Jamie Dimon remains skeptical of stablecoins—but says ignoring them isn’t an option for the world’s most powerful bank.