With the asset class growing in prominence throughout the year, traditional finance entities like Deutsche Bank and Standard Chartered are looking into expanding their US crypto operations. Indeed, both are exploring the potential growth of their offerings, according to sources.
The US crypto market has gotten a major boost from the presence of increased favorable regulatory shifts in the country. The arrival of President Donald Trump has brought about the arrival of the first pro-crypto administration in United States history. Therefore, a slew of entities are actively exploring how to capitalize on that growth.
JUST IN: Deutsche Bank and Standard Chartered Bank seek to expand crypto operations in the United States.
— Watcher.Guru (@WatcherGuru) April 21, 2025
Also Read: Standard Chartered: Bitcoin Still has $500k Target for Trump’s 2nd Term
Standard Chartered & Deutsche Bank Seeking Key Role in US Crypto Market
The first several months of the year have been difficult for the US stock and crypto markets. However, they have been unprecedented in terms of their pro-cryptocurrency developments. Since the year began, the returning US President Trump has already greenlit a digital asset reserve and completely overhauled the US Securities and Exchange Commission (SEC) crypto policy.
That is set to completely shift how the industry operates in the country. Moreover, a race to participate in that development has already begun. Indeed, Deutsche Bank and Standard Chartered are both eyeing an expanded US crypto operation alongside the country’s looming arrival of favorable regulation, according to a Wall Street Journal report.
Also Read: ‘Bitcoin is Like Gold’—Deutsche Bank Says US Reserve Could Set Global Standards
They are certainly not alone in this pursuit. Earlier this year, Bank of America CEO Brian Moynihan said that the bank was set to introduce its own stablecoin. Specifically, he noted the offering would commence once the necessary legislation was passed. Moreover, US Bancorp also announced it was relaunching its crypto custody services.
The developments signal a deepening connection between the banking and cryptocurrency sectors. That was something that Federal Reserve Chair Jerome Powell said the agency wouldn’t deter from happening. With it expected to continue, the nation’s cryptocurrency approach should look massively different by the end of Trump’s first year back in office.