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SOL Standard Chartered Bank launches Bitcoin and Ethereum spot trading services in United Arab Emirates
According to Reuters, global banking giant Standard Chartered has announced that it will provide Bitcoin and Ethereum spot trading services for its corporate customers in the United Arab Emirates (UAE). The move makes Standard Chartered Bank the first global bank to provide spot trading in cryptocurrencies directly to institutional customers in the Gulf countries.
This new service is provided through Standard Chartered Bank's business operations in the Dubai International Financial Center (DIFC). The bank aims to expand institutional investors 'access to the cryptocurrency market through traditional financial infrastructure.
Standard Chartered Bank's entry into the United Arab Emirates is part of its strategy to expand its activities in the digital asset field. In fact, the bank has started providing spot trading services for BTC and ETH to UK institutional customers as early as 2025.
Solana accounts for one-fifth of stablecoin trading volume
Although Standard Chartered Bank's BTC and ETH initiatives in the United Arab Emirates have attracted much attention, Geoff Kendrick, head of digital asset research at the bank, expressed important views on Solana. In Solana's official podcast "House of Sol", Kendrick highlighted Solana's strong position in the stablecoin market.
Kendrick pointed out that approximately US$7 trillion in transactions are processed through stablecoins every month, and the Solana Network processes approximately one-fifth of those transactions. He said this ratio not only highlights the network's role in decentralized finance (DeFi) and cryptocurrency transactions, but also reflects its growth potential in payments and stablecoin-based application scenarios.
Kendrick also mentioned that Solana's low transaction costs and extremely high transaction processing capabilities are key factors that make it stand out among stablecoins and micropayment applications.
The above content does not constitute investment advice.
