Falconx-Standard Partners

Falconx, Crypto Prime, formed a strategic partnership with Global Lunder Standard Charted to enhance its presentations for institutional customers. The partnership, which announced today (Wednesday), highlights the increasing demand for digital assets.

Providing banking infrastructure

“With the continued growth of institutional demand for digital assets, we are proud to provide the banking infrastructure that enables companies such as Falconx to provide trading and financing solutions globally to institutional customers,”

Under the partnership, the bank will provide a comprehensive set of banking services to Falconx worldwide. In addition, the Crypto Prime broker will integrate the Standard Charged infrastructure and reach a wide range of currency pairs for cross -border settlements for its institutional base.

The increasing demand for the main intermediaries of encryption

The main brokers play a major role in the financial markets, including the expanded encryption sector, by providing a set of services such as trading, custody and association with major institutions such as hedge funds, banks and private stock companies.

Banks are major players in the initial mediation area. However, when it comes to encryption, they were reluctant to work as a major mediator due to organizational uncertainty, the volatility of the market and the fears related to custody and compliance. This gap has supported the rise of the main encryption intermediaries.

Last month, Ripple agreed to obtain Hidden Road, and another encryption broker, for $ 1.25 billion. According to the director of the international executive of Hidden Road, Michael HighGins, the deal was “beautiful membership” where “Ripple was well known as Hidden Road as a customer. Hidden Road was known to the members of the Ripple management team. There was a natural relationship between our companies.

Read more: Ripple -Hidden Road Deal – Crypto Prime Brokes leave banks behind them

Falconx, with the support of GIC, is a pioneering encryption broker with an assessment of $ 8 billion. I reported standard growth in the second quarter of 2024, with revenue increased 2.5 times compared to self in 2023. According to its website, Falconx completed more than $ 1.5 trillion in trading volume by the end of 2023 and served more than 600 institutional customers.

“In Falconx, we support trading and financing for some of the world’s largest institutions in the digital asset markets, and this relationship enhances our ability to provide strong banking and FX solutions for customers who rely on us to work in the encryption markets,” added Matt Long, General Manager, APAC & Middle East in Falconx.