Standard Chartered Plans to Launch Crypto Brokerage Platform and Revises ETH Forecast

Standard Chartered Expands into Crypto Sector

According to reports, Standard Chartered is considering the launch of a cryptocurrency brokerage platform, indicating a potential expansion of the bank’s ambitions in the digital asset space as traditional financial institutions increase their involvement in the sector. The British multinational bank is in the early stages of discussions to establish a prime crypto trading and brokerage platform through its venture capital arm, SC Ventures, according to a Bloomberg report. A timeline for a potential launch has not been finalized, and Standard Chartered has yet to confirm its plans.

Revised Ether Price Forecast

Despite its reported interest in expanding crypto services, Standard Chartered has lowered its medium-term price forecast for Ether, citing overall weakness in digital asset markets. The bank has reduced its price target for Ether to $7,500 by the end of 2026, down from $12,000, while the projection for the end of 2028 has been adjusted from $25,000 to $22,000.

Geoff Kendrick, global head of digital asset research at Standard Chartered, commented: "The weaker-than-expected performance of Bitcoin has impacted the outlook for all digital assets relative to the USD, given Bitcoin's continued dominance in the sector." However, the bank anticipates that Ether will exceed $40,000 by 2030, raising its long-term forecast from $30,000.