Standard Chartered launches BTC and ETH trading, with 90% of internal discussions focused on stablecoins
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Standard Chartered launches BTC and ETH trading, with 90% of internal discussions focused on stablecoins
Standard Chartered's report indicates that the overall development speed of the stablecoin industry may be faster than previously expected.
Navigating Web3 tides with focused insightsSource: Cryptoslate
Compiled by: Blockchain Knight
Standard Chartered has launched spot trading services for Bitcoin and Ethereum through its institutional cryptocurrency platform, further expanding its footprint in the digital asset space amid surging regulatory and investor interest in stablecoins in the United States.
Prior to this launch, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, held multiple high-level meetings in Washington, New York, and Boston from July 7 to 11, engaging with crypto-native firms, Bitcoin miners, funds, and policymakers.
According to Kendrick, despite record-high Bitcoin prices, nearly 90% of discussions centered on stablecoins.
Market interest in stablecoins has surged as the U.S. GENIUS Act—a bill designed to establish clear regulations for fiat-backed digital assets—nears passage.
Kendrick said the bill could come into effect as early as this week, paving the way for rapid expansion of the U.S. stablecoin market and broader adoption among financial institutions and public sector entities.
Kendrick noted that clients project the stablecoin market to reach $750 billion by end-2026, compared to approximately $250 billion as of July 15.
With clearer regulations on the horizon, stablecoin issuance is expected to expand significantly—not only to major financial institutions but also to regional banks and local governments exploring tokenized cash instruments.
Beyond applications, discussions also covered macroeconomic implications: potential shifts in the U.S. Treasury yield curve, long-term effects on dollar liquidity, reforms to the U.S. payment system, and financial stability risks posed by stablecoins in emerging markets.
A report by Standard Chartered indicated that the overall development of the stablecoin industry may be faster than previously anticipated.
Kendrick emphasized that another piece of legislation, the Digital Asset Market Structure Act, could pass by late September or early October, potentially accelerating the tokenization of real-world assets (RWA) and integration of DeFi infrastructure.
On-chain data shows stablecoin balances across all wallet sizes—including centralized exchanges, DeFi platforms, and mid-sized retail wallets—are consistently growing, indicating an expanding range of use cases and rising global demand.
Kendrick’s findings and the launch of Standard Chartered’s trading platform reflect a pivotal shift in institutional crypto strategy. While Bitcoin’s role as a store of value remains strong, current infrastructure and policy agendas clearly position stablecoins as the core pillar of programmable money.
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