StanChart Plans Spot Crypto Trading Desk for Bitcoin, Ether (1)

Standard Chartered Plc is setting up a trading desk for Bitcoin and Ether, people familiar with the matter said, making it one of the first global banks to enter spot cryptocurrency trading.

The new crypto desk is close to starting operations and will be part of the bank’s FX trading unit, two of the people said, asking not to be named discussing private information. It will be run from London, according to one person.

Banks including Goldman Sachs Group Inc. have been trading cryptocurrency derivatives for years, but strict regulations have kept them from dealing directly in the underlying ...