Digital asset intermediary FalconX has declared a strategic collaboration with British global bank Standard Chartered to enrich services for institutional customers.
During the initial phase of the collaboration, Standard Chartered will provide a variety of banking and foreign exchange (FX) services to FalconX, aiding in enhancing the platform’s capacity for managing cross-border payments. This partnership will gradually broaden to include additional offerings and collaborative opportunities, the company specified.
With the incorporation of Standard Chartered’s banking framework, FalconX will now gain access to a wider array of currency pairs, facilitating swifter and more dependable cross-border transactions for clients.
“We are delighted to collaborate with Standard Chartered, one of the most innovative international banks in the realm of digital asset adoption,” expressed Matt Long, General Manager for APAC & Middle East at FalconX. “At FalconX, we engage with some of the largest global institutions in the digital asset sector, and this collaboration will enable us to deliver even superior banking and FX solutions to clients operating in the crypto domain.”
The collaboration follows closely on recent remarks from Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, who expressed regret over his previous Bitcoin price prediction of $120,000. Kendrick now anticipates that Bitcoin could exceed his initial estimate due to the increasing institutional interest. He noted $5.3 billion in recent inflows into U.S. Bitcoin ETFs, indicating rising interest from major investors. Kendrick now predicts Bitcoin could reach as much as $200,000 by year-end.
“Our alliance with FalconX demonstrates our dedication to advancing the digital asset ecosystem,” stated Luke Boland, Head of Fintech at Standard Chartered. “We’re proud to supply the banking infrastructure that empowers firms like FalconX to provide top-tier trading and financing solutions to institutional clients.”