J.P. Morgan: Standard Chartered offering cryptocurrency trading services to institutional clients can drive valuation reassessment, maintain "Overweight" rating.

JPMorgan Chase issued a research report stating that Standard Chartered Group recently announced that it will launch Bitcoin and Ether trading services for institutional clients, becoming the first major bank to offer spot cryptocurrency trading services. Although the financial contribution may be limited in the short term, it is believed that this move can drive a revaluation of the group's valuation. As a regulated bank providing such services, JPMorgan expects Standard Chartered to accelerate the integration of cryptocurrency assets into the mainstream financial system, help increase market share, maintain a "hold" rating, and set a target price of $135.