Standard Chartered (STAN) to Offer Banking Solutions for FalconX Aiming to Improve Cross-Border Transactions

Standard Chartered (STAN) has initiated a partnership with FalconX, an institutional prime broker, to deliver banking services.

Based in San Mateo, California, FalconX intends to utilize a variety of currency pairs, which will significantly improve the efficiency and dependability of its international transactions, according to their recent statement.

In the financial ecosystem, prime brokers play a crucial role by offering essential services such as financing, trading, and custody to sizable institutional clients.

The goal of FalconX is to unify traditional finance with the cryptocurrency sector by elevating its offerings to align with the standards typically seen in traditional financial institutions.

Additionally, FalconX aims to leverage the banking services provided by Standard Chartered as a pathway to access various products and solutions that could appeal to institutional clients like asset management firms, hedge funds, token issuers, and payment processors.

Standard Chartered already has a strong presence in the cryptocurrency space, being a majority stakeholder in Zodia Custody, which specializes in digital asset custody, as well as its trading platform, Zodia Markets.