Commonplace Chartered (STAN) Will Present Banking Providers for FalconX to Improve Cross-Border Settlement

Commonplace Chartered (STAN) is now offering banking providers for institutional prime dealer FalconX.

The San Mateo, California-headquartered dealer will entry a variety of foreign money pairs, serving to to reinforce the velocity and reliability of its cross-border settlement, FalconX mentioned in an announcement on Wednesday.

Prime brokers are an vital cog in monetary markets, offering financing, buying and selling and custody providers to giant establishments.

FalconX is looking for to bridge the hole between conventional finance and cryptocurrency by way of bringing its service as much as the extent one would discover at a TradFi establishment.

The prime dealer additionally plans to make use of Commonplace Chartered’s banking help as a gateway to different services that will entice institutional purchasers, reminiscent of asset managers, hedge funds, token issuers and cost platforms.

Commonplace Chartered already has its foot firmly within the door of the crypto trade as the bulk shareholder of digital asset custodian Zodia Custody and its trade arm Zodia Markets.

Learn Extra: Bybit Beefs Up Asset Safety Following $1.45B Hack