Cryptocurrency exchange Coinbase (COIN) and crypto-friendly bank Standard Chartered (STAN) said they have expanded their digital asset partnership to explore the development of trading, primary servicing, custody, staking and lending products for institutional clients.
According to a press release, the deal builds on the two companies’ existing collaboration in Singapore, where Standard Chartered provides bank connectivity to provide Coinbase customers with real-time Singapore dollar transfers.
Over time, Coinbase has become increasingly trusted by institutions, including banks, especially with the recent news that JPMorgan Chase (JPM) is introducing its JPM Coin deposit token to the U.S. exchange’s second-tier blockchain Base.
“Our aim is to explore how both organizations can support secure, transparent and interoperable solutions that meet the highest security and compliance standards,” Margaret Harwood-Jones, Standard Chartered’s global head of finance and securities services, said in a statement.
