Standard Chartered and Coinbase have expanded their partnership to construct crypto infrastructure for institutional customers.
As a part of the partnership, the duo will explore offerings in trading, premium services, custody, pledging and lending, the British multinational bank announced on Friday.
“We wish to explore how the 2 organizations can support secure, transparent and interoperable solutions that meet the best security and compliance standards,” said Margaret Harwood-Jones, global head of finance and securities services at Standard Chartered.
The two corporations said the partnership combines Standard Chartered's cross-border banking and custody expertise with Coinbase's institutional crypto platform. The aim is to develop an integrated suite of services that permits institutions to trade and manage digital assets in a secure and compliant framework.
Standard Chartered and Coinbase construct on partnership with Singapore
The announcement builds on an existing relationship in Singapore, where Standard Chartered already provides banking connectivity to Coinbase and enables real-time Singapore dollar transfers for the exchange's customers.
Last 12 months, Crypto.com also partnered with Standard Chartered to launch global retail banking services, allowing users in greater than 90 countries to deposit and withdraw US dollars, euros and UAE dirhams through the app.
Meanwhile, Coinbase will announce recent products next week, which could include prediction markets and tokenized stocks.
Banking regulators are clearing the way in which for crypto trust banks
On Friday, the U.S. Office of the Comptroller of the Currency conditionally approved applications to determine a national trust bank for five corporations tied to the digital assets sector.
The approvals include BitGo, Fidelity Digital Assets and Paxos, which plan to convert existing state-chartered trust corporations into national trust banks, in addition to recent applicants Circle and Ripple.
