FalconX, the California-based crypto prime broker, has announced a strategic partnership with global banking giant Standard Chartered to expand its reach into institutional crypto markets.
This collaboration marks FalconX’s first partnership with a major traditional bank and highlights the increasing demand for regulated digital asset infrastructure among large investors.
Details of the Partnership:
- According to a May 14 press release, FalconX will integrate Standard Chartered’s banking and foreign exchange (FX) services into its platform.
- The partnership aims to provide FalconX clients with access to a broader range of currency pairs and enable faster, more reliable cross-border settlements.
- The initial rollout is set for Singapore, with expansion plans across Asia, the Middle East, and the United States.
Matt Long, General Manager for APAC and the Middle East at FalconX, expressed excitement about the partnership, stating:
“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.”
FalconX’s Growing Institutional Footprint:
FalconX serves hedge funds, sovereign wealth funds, and asset managers, offering a suite of trading and financing solutions for digital assets.
- The firm has processed over $1.5 trillion in crypto trades to date.
- FalconX was valued at $8 billion during its latest funding round, which included backing from GIC, Wellington Management, and Tiger Global.
Standard Chartered’s Crypto Push:
Standard Chartered has been increasingly active in the crypto sector:
- The bank has launched spot trading desks for Bitcoin and Ethereum.
- Partnered with OKX to enhance crypto collateral solutions.
- Established custody services in the UAE.
- Forecasts that the digital asset market could reach $10 trillion by 2026.
Future Growth and Institutional Expansion:
The partnership sets the foundation for deeper collaboration, potentially expanding into additional institutional services as digital assets further enter the financial mainstream. Both FalconX and Standard Chartered view this as a crucial step toward bridging traditional finance with crypto markets.
For more updates on FalconX, Standard Chartered, and the growing institutional adoption of crypto, visit TheCoinInfo.
