Standard Chartered has completed its first digital asset prime brokerage trades with LMAX Group, executing spot Bitcoin and Ether transactions through a bank-backed institutional trading model. The pilot, conducted through Standard Chartered’s UK branch with T+1 settlement, marks a significant step as the bank becomes among the first global systemically important banks to complete digital asset credit intermediation trades via prime brokerage structure.
The transactions ran on LMAX Digital’s regulated platform, with Standard Chartered acting as credit intermediary between counterparties. Settlement was processed through the bank’s digital asset custody platform in Dubai International Financial Centre. The pilot tested integrated workflows including trade matching, credit controls, margin management, and reporting systems, demonstrating how traditional financial infrastructure can interoperate with digital asset platforms.
This development follows LMAX’s recent launch of Kiosk, enabling institutions to use crypto as collateral for FX and CFD trading, and Standard Chartered-backed Zodia Markets’ expansion through banking partnerships.
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FXnCO Insight
** Banks providing prime brokerage services for digital assets could accelerate institutional crypto adoption by offering familiar credit intermediation and settlement infrastructure that traditional finance players require.
Source: Finance Magnates