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Standard Chartered , said on Thursday it had launched cryptocurrency spot trading in bitcoin and ​ether for institutional clients in the United ‌Arab Emirates, becoming the first global systemically important bank to offer the service in the Gulf country.

Standard Chartered and HSBC have completed the first interbank transaction executed on Swift's blockchain-based ledger, Standard Chartered said in a Wednesday (Aug. 19) press release. This live cross-border transaction demonstrated interbank operability and helped advance industry progress on 24/7 cross-border payments, according to the release.

Standard Chartered is helping its wealth management clients deploy a portion of their assets to hedge funds to better cushion the impact of ​heightened market volatility, a top executive said.

Ant International launched an upgraded version of its ​artificial intelligence model on Thursday, signing ‌up major global banks as financial institutions accelerate the adoption of specialised AI to ​manage liquidity risks.

Standard Chartered's joint venture Anchorpoint Financial said on Wednesday it had begun the first phase of the ​rollout of its Hong Kong dollar-backed stablecoin, offering ‌limited access to institutional distributors and professional investors.