Standard Chartered (STAN) Will Provide Banking Services for FalconX to Enhance Cross-Border Settlement

Standard Chartered (STAN) is now offering banking providers for institutional prime dealer FalconX.

The San Mateo, California-headquartered dealer will entry a variety of foreign money pairs, serving to to improve the velocity and reliability of its cross-border settlement, FalconX mentioned in an announcement on Wednesday.

Prime brokers are an necessary cog in monetary markets, offering financing, buying and selling and custody providers to giant establishments.

FalconX is searching for to bridge the hole between conventional finance and cryptocurrency by way of bringing its service up to the extent one would discover at a TradFi establishment.

The prime dealer additionally plans to use Standard Chartered’s banking help as a gateway to different services and products that might entice institutional purchasers, corresponding to asset managers, hedge funds, token issuers and cost platforms.

Standard Chartered already has its foot firmly within the door of the crypto trade as the bulk shareholder of digital asset custodian Zodia Custody and its alternate arm Zodia Markets.

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