Standard Chartered Bank launches BTC and ETH trading, with 90% of internal discussions focusing on stablecoin.

Source: Cryptoslate

Compiled by: Blockchain Knight

Standard Chartered Bank has launched spot trading services for Bitcoin and Ethereum through its institutional cryptocurrency platform, further expanding its business footprint in the digital asset space as U.S. regulators and investors are increasingly focused on stablecoins.

Before the launch of this business, Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered Bank, held several high-level meetings in Washington, New York, and Boston from July 7 to 11, engaging with crypto-native enterprises, Bitcoin miners, funds, and policymakers.

According to Kendrick, despite Bitcoin prices hitting new highs, nearly 90% of the discussions are focused on stablecoins.

As the US bill "GENIUS Act" aimed at establishing clear rules for digital assets backed by fiat currency is about to pass, market interest in stablecoins is rapidly increasing.

Kendrick stated that the bill could officially take effect as early as this week, paving the way for the rapid expansion of the stablecoin market in the United States and promoting its wider application in financial institutions and public sector entities.

Kendrick pointed out that customers predict the stablecoin market size will reach $750 billion by the end of 2026, while as of July 15, this figure is approximately $250 billion.

With the clarification of regulatory policies, the issuance scope of stablecoins is expected to expand significantly, not only including large financial institutions but also regional banks and local governments may explore issuing tokenized cash instruments.

In addition to application promotion, the discussion also involves macroeconomic impacts: potential changes in the U.S. Treasury yield curve, long-term effects on U.S. dollar liquidity, reforms to the U.S. payment system, and the financial stability risks that stablecoins pose to emerging markets.

A report by Standard Chartered Bank shows that the overall development pace of the stablecoin industry may be faster than previously expected.

Kendrick emphasized that another piece of legislative work, the "Digital Asset Market Transparency Act," may be passed by the end of September or early October, which could accelerate the tokenization process of RWA and the integration of DeFi infrastructure.

On-chain data shows that the balance of stablecoins across all wallet sizes (including centralized exchanges, DeFi platforms, and medium-sized retail wallets) continues to grow, indicating that the use cases for stablecoins are constantly expanding and global demand is increasing.

Kendrick's research results and the launch of the Standard Chartered trading platform reflect a key shift in institutional cryptocurrency strategies. Although Bitcoin's status as a store of value remains solid, the current infrastructure and policy agenda have clearly positioned stablecoins as a core pillar of programmable money.