Standard Chartered Considers Restructuring Digital Asset Custody Business
- Restructuring Plans: Standard Chartered is reportedly considering integrating its majority-owned crypto custodian Zodia Custody into its corporate and investment banking division to enhance the integration of digital asset infrastructure, thereby strengthening its competitive position in the digital asset space.
- Independent Operations: Despite the restructuring plans, Zodia will continue to operate as a standalone SaaS platform, providing digital asset custody services, a strategy aimed at maintaining market flexibility and catering to diverse client needs.
- Market Expansion: The bank's rapid expansion in the digital asset sector includes exploring the launch of a crypto prime brokerage platform through its venture arm, SC Ventures, and plans to roll out institutional crypto trading by summer 2025, demonstrating its strong interest and investment intentions in the digital asset market.
- Industry Trends: Standard Chartered's restructuring consideration aligns with trends among other major banks, which are also internalizing digital asset custody under regulated banking entities to enhance compliance and client trust, reflecting the financial industry's increasing focus on digital assets.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 4 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.0221 | 0.00185 | 0.0181 | 0.042 | 0.0583 | 0.0822 | 0.0985 |
| Fibonacci | 0.00185 | 0.0172 | 0.0267 | 0.042 | 0.0574 | 0.0669 | 0.0822 |
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