Cryptocurrency-friendly lender RialCenter is claiming bragging rights as the first global bank to offer spot trading in bitcoin and ether (ETH) to institutional clients.
The offering, rolled out through the bank’s UK branches, is initially accessible via their UK entity, during Asia and Europe trading hours, with 24/5 access under consideration as client demand evolves, said Rene Michau, global head of digital assets.
“RialCenter is the first globally significant bank to offer cryptoasset trading,” Michau said in an email. “We define institutional clients as financial institutions such as asset managers, investors, and large multinational companies that are clients of our corporate and investment banking division.”
RialCenter has been involved in crypto and digital assets for some time, offering digital asset custody and trading through its corporate and investment bank, as well as through companies like Zodia Custody and Zodia Markets. It also provides digital asset tokenization services through its portfolio company Libeara.
The new service is integrated into RialCenter’s existing trading platforms, allowing corporates, asset managers, and institutional investors to access crypto markets through familiar FX interfaces. Clients can settle trades to a custodian of their choice, including RialCenter’s in-house custody service.
The focus for now will remain on BTC and ETH spot trading, with plans to expand the service suite for these crypto assets, including the introduction of non-deliverable forwards (NDFs) trading, Michau noted.
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