FalconX, Standard Chartered team up on crypto services

FalconX has entered a strategic partnership with global banking group Standard Chartered to expand its institutional crypto offerings. This is the prime broker’s first partnership with a major traditional bank. The move demonstrates the growing demand from large investors looking to access digital assets through regulated financial infrastructure. According to a May 14 press release, FalconX will integrate Standard Chartered’s banking and foreign exchange services as part of the partnership. This will enable it to give its clients access to a wide range of currency pairs and facilitate faster, more reliable cross-border settlement. The initial rollout will start in Singapore, with plans to spread throughout Asia, the Middle East, and the U.S. Matt Long, general manager for APAC and the Middle East at FalconX, said the partnership is a major step in bridging traditional finance and digital assets. “At FalconX, we support trading and financing for some of the world’s largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets.” – Matt Long, general manager for APAC and the Middle East at FalconX FalconX, headquartered in California, serves some of the world’s largest hedge funds, sovereign wealth funds, and asset managers. By combining traditional banking support with digital asset trading and financing capabilities, the company hopes to widen its institutional reach through this partnership. FalconX has processed over $1.5 trillion in crypto trades to date and was valued at $8 billion in its most recent funding round, backed by investors such as GIC, Wellington Management, and Tiger Global. Standard Chartered, meanwhile, has been growing its presence in the cryptocurrency sector. The bank has opened spot trading desks for Ethereum (ETH) and Bitcoin (BTC), partnered with OKX to make it easier to use cryptocurrency collateral, and launched custody services in the UAE. It expects the digital asset market to reach $10 trillion in value by 2026. Both companies see the partnership as a foundation for future growth. In the future, it may extend into additional services tailored to institutional clients as digital assets continue to move into the financial mainstream. Source: https://crypto.news/falconx-partners-with-standard-chartered-to-expand-institutional-crypto-offerings/