Crypto Broker FalconX Collaborates with Standard Chartered

Crypto prime broker FalconX and global bank Standard Chartered, and said Wednesday they had entered into a strategic partnership to cater to the needs of institutional crypto investors.

The collaboration is meant to be FalconX’s first-ever deal with a global traditional bank and implies increasing institutional interest in digital assets via traditional banks.

FalconX will use the banking and foreign exchange capabilities of Standard Chartered, including its access to a plethora of currencies, in order to serve its institutional client base, said Matt Long, FalconX’s general manager of APAC & Middle East.

“Our clients will be able to do fiat currencies settlements in a more efficient way, which means a lot faster settlement, better capital efficiency and overall reduced operational risk”, he said.

The California-based crypto-focused prime-brokerage services firm said it serves some of the world’s biggest asset managers, sovereign wealth funds, hedge funds and family offices.

Greater adoption of digital assets by institutional clients was identified by Standard Chartered as the reason behind the partnership.

Luke Boland, Asia head of fintech at Standard Chartered said that Standard Chartered was partnering with FalconX in its first move that would start in Singapore before venturing to the other Asian, Middle East and the US countries.

The digital asset business of the Hong Kong-based multinational bank has been growing. In the United Arab Emirates, the bank launched a digital asset custody service last year.

The worldcrypto market crossed the $3 trillion value in November after the election of pro-crypto Donald Trump as the president of the U.S, stoking hopes of the dawn of a golden age of digital assets.

By 2026, Standard Chartered projects that the total value of digital assets will be $10 trillion.

FalconX was founded in 2018 and, after a $150 million fundraising round in 2022, was last valued at $8 billion. Tiger Global Management, Singapore's government wealth fund GIC, and Wellington Management are among the investors who support it.

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