Standard Chartered Bank Signs Partnership With Digital Asset Broker FalconX
Digital asset broker FalconX has announced a strategic partnership with British multinational bank Standard Chartered to enhance services for institutional clients.
In the first phase of the partnership, Standard Chartered will offer a range of banking and foreign exchange (FX) services to FalconX, helping to improve the platform's ability to handle cross-border payments. Over time, this partnership will expand into other offerings and mutual opportunities, the company stated.
By integrating Standard Chartered's banking infrastructure, FalconX will now have access to more currency pairs, making cross-border transactions faster and more reliable for clients.
'We are pleased to partner with Standard Chartered, one of the most forward-thinking global banks in digital asset adoption' said Matt Long, General Manager for APAC & Middle East at FalconX. 'At FalconX, we work with some of the world's largest institutions in the digital asset space, and this partnership will allow us to provide even better banking and FX solutions to clients who need to operate in the crypto world.'
The partnership comes soon after recent comments from Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, who apologized for his earlier Bitcoin price target of $120,000. Kendrick now believes Bitcoin could surpass his initial forecast due to the growing institutional demand. He highlighted $5.3 billion in recent inflows to U.S. Bitcoin ETFs, a sign of increasing interest from large investors. Kendrick now expects Bitcoin to reach up to $200,000 by the end of the year.
'Our partnership with FalconX shows our commitment to advancing the digital asset ecosystem,' said Luke Boland, Head of Fintech at Standard Chartered. 'We're proud to provide the banking infrastructure that helps firms like FalconX offer world-class trading and financing solutions to institutional clients.'
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