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Standard Chartered Bank Plans to Establish Cryptocurrency Prime Brokerage Business, Expand Digital Asset Layout
Summary: According to Bloomberg, Standard Chartered Bank is planning to establish a cryptocurrency prime brokerage business through its venture capital arm, SC Ventures, offering services including custody, financing, and market access, currently in the early stages of preparation. This move will help the bank avoid the Basel III capital requirements of up to 1250% for unlicensed ...
According to Bloomberg, Standard Chartered Bank is planning to establish a cryptocurrency prime brokerage business through its venture capital arm, SC Ventures, offering services including custody, financing, and market access, currently in the early stages of preparation.
This move will help the bank avoid the Basel III capital requirements of up to 1250% for unlicensed crypto assets. Standard Chartered has previously been involved in projects such as Zodia Custody and Zodia Markets, and aims to become the first globally systemically important bank to offer spot cryptocurrency trading by 2025.
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