Crypto prime brokerage firm FalconX and global banking giant Standard Chartered announced on Wednesday that they have entered into a strategic alliance aimed at catering to institutional cryptocurrency investors.
The partnership represents FalconX’s inaugural collaboration with a major global traditional bank, signaling a rising institutional interest in accessing digital assets via established financial institutions.
Matt Long, FalconX’s General Manager for APAC & the Middle East, stated that the company will utilize Standard Chartered’s banking and foreign exchange services—including its broad access to global currencies—to better support its institutional clients.
“Our clients will be able to engage more efficiently in fiat currency settlements, which means a lot faster settlement, better capital efficiency, and overall reduced operational risk,” he said.
The California-based firm, which specializes in crypto-focused prime brokerage services, reported that its clientele includes some of the world’s largest asset managers, sovereign wealth funds, hedge funds, and family offices.
Standard Chartered cited the growing adoption of digital assets by institutional clients as the key reason behind forming the partnership with FalconX.
Luke Boland, Standard Chartered’s Asia head of fintech, stated that the bank’s partnership with FalconX would initially launch in Singapore, with plans to gradually expand into other regions, including Asia, the Middle East, and the United States.
The Hong Kong-headquartered multinational bank has been steadily expanding its footprint in the digital asset space. Last year, it launched a digital asset custody service in the United Arab Emirates. More recently, in April, it partnered with crypto exchange OKX to enable institutional clients to use cryptocurrencies as collateral.
In November, the global cryptocurrency market soared past $3 trillion in market capitalization, following the election of crypto-friendly Donald Trump as U.S. President. As a result, this development has sparked widespread optimism about a potential golden era for digital assets.
Standard Chartered expects the overall value of digital assets to reach $10 trillion by 2026.
Founded in 2018, FalconX’s last valuation was at $8 billion after a $150 million funding round in 2022. It is backed by prominent investors, including Wellington Management, Singapore’s sovereign wealth fund GIC, and Tiger Global Management.
