Coinbase (COIN), the cryptocurrency exchange, has announced an expansion of its partnership with Standard Chartered (STAN), a crypto-friendly bank. This collaboration aims to explore the creation of trading, prime services, custody, staking, and lending products specifically designed for institutional clients.
This agreement builds upon their existing partnership in Singapore, where Standard Chartered facilitates banking connectivity, allowing Coinbase’s clients to make real-time transfers in Singapore dollars, as stated in a press release.
As time progresses, Coinbase is increasingly recognized as a trustworthy entity among institutions, including banks. Recent developments, such as JPMorgan’s (JPM) integration of the JPM Coin deposit token with Base, Coinbase’s layer-2 blockchain, highlight this trend.
Margaret Harwood-Jones, Standard Chartered’s global head of financing and securities services, mentioned in the statement, “We aim to explore how the two organizations can support secure, transparent, and interoperable solutions that meet the highest security and compliance standards.”
