Standard Chartered (STAN), Coinbase (COIN) Expand Crypto Prime Services for Institutions

Cryptocurrency exchange Coinbase (COIN) and crypto-friendly bank Standard Chartered (STAN) said they expanded a partnership on digital assets to explore the development of trading, prime services, custody, staking and lending products for institutional clients.

The deal builds on the existing tie-up between the two companies in Singapore, where Standard Chartered provides banking connectivity that enables real-time Singapore dollar transfers for Coinbase’s customers, according to a press release.

Coinbase is becoming more of a trusted name among institutions, including banks, as time goes on, not least with the recent news that JPMorgan (JPM) brought its JPM Coin deposit token to Base, the layer-2 blockchain of the U.S. exchange.

“We aim to explore how the two organisations can support secure, transparent and interoperable solutions that meet the highest standards of security and compliance,” Margaret Harwood-Jones, Standard Chartered’s global head of financing and securities services, said in the statement.