Financial institution Standard Chartered signs yet another partnership in the cryptocurrency sector, this time with FalconX.
Standard Chartered and FalconX Partner to Expand Institutional Access to Cryptocurrency
Standard Chartered and FalconX have announced a strategic partnership aimed at expanding institutional access to cryptocurrency and digital assets. This collaboration leverages the strengths of both companies to provide more efficient settlement, foreign exchange (FX), and cross-border services for institutional crypto clients.
The partnership gives FalconX access to Standard Chartered's global banking infrastructure, which supports a broader range of currency pairs and deepens FalconX's currency trading and settlement capabilities. This infrastructure access enhances their ability to serve institutional crypto traders worldwide.
Together, they plan to co-develop digital asset solutions tailored to institutional participants such as fund managers, payment platforms, and token issuers. The goal is to address the growing demand in the institutional crypto market and lay the foundation for expanded services that support trusted and compliant access points in the rapidly evolving crypto space.
This partnership is part of Standard Chartered’s ongoing strategy to build out infrastructure for institutional digital asset growth. Previous initiatives include piloting tokenized collateral programs, investing in crypto-related companies, and launching Zodia Custody and Zodia Markets.
FalconX, backed by prominent investors including Accel, American Express Ventures, Tiger Global Management, and Wellington Management, is also expanding regionally, notably into Latin America. They partner with local financial institutions to enhance institutional crypto services globally.
Key aspects of the partnership include access for FalconX to Standard Chartered’s global banking and FX settlement infrastructure, joint development of institutional crypto trading, financing, and custody solutions, enhanced operational scale, and regulatory-compliant services for large crypto clients. The partnership aims to strengthen Standard Chartered's position in the cryptocurrency and digital assets sector and enhances FalconX's institutional offerings through improved cross-border settlement capabilities.
In the initial phase, Standard Chartered will provide comprehensive banking services to FalconX globally. They have also formed relationships with digital asset firms, including Paxos, OKX, and StraitsX. Standard Chartered has provided cash management and custody services for stablecoin issuer Paxos and collaborated with Singapore's StraitsX on stablecoin services.
Matt Long, General Manager, APAC & Middle East at FalconX, stated that the relationship strengthens FalconX's ability to deliver robust banking and FX solutions to clients operating in the crypto markets. The partnership also positions both firms to capitalize on increasing institutional flows into crypto and the maturation of crypto infrastructure across global markets.
Standard Chartered was an early investor in Ripple and has recently partnered with cryptocurrency exchange OKX for institutional custody solutions. They are also exploring stablecoin-based solutions for cross-border FX payments through Zodia Markets, particularly focused on addressing challenges faced by APAC investors trading US securities.
FalconX, a leading digital asset prime broker serving institutional clients worldwide, was the first CFTC-registered swap dealer focused on cryptocurrency derivatives. Their commitment to compliance and robust infrastructure makes them an ideal partner for Standard Chartered as they navigate the complex and rapidly evolving world of digital assets.
- The partnership between Standard Chartered and FalconX allows FalconX to tap into Standard Chartered's global banking and foreign exchange (FX) infrastructure, which will strengthen their currency trading and settlement capabilities, enabling them to serve institutional crypto traders worldwide more efficiently.
- By co-developing digital asset solutions with FalconX, Standard Chartered aims to address the growing demand in the institutional crypto market, specifically from fund managers, payment platforms, and token issuers, and lay the foundation for expanded services that support trusted and compliant access points in the crypto space.
- With Standard Chartered providing comprehensive banking services globally and FalconX's commitment to compliance and robust infrastructure, the partnership allows both firms to capitalize on increasing institutional flows into crypto and the maturation of crypto infrastructure across global markets.
