Express
Bloomberg: Standard Chartered Bank Plans to Establish Dedicated Cryptocurrency Trading Brokerage Business
Summary: According to Bloomberg, sources report that Standard Chartered Bank is planning to establish a dedicated cryptocurrency trading brokerage business, indicating global banks are increasing efforts in the digital asset competition. The London-based bank is said to set up the new business under its wholly-owned venture capital arm, SC Ventures. Discussions are in early stages, and ...
According to Bloomberg, sources report that Standard Chartered Bank is planning to establish a dedicated cryptocurrency trading brokerage business, indicating global banks are increasing efforts in the digital asset competition. The London-based bank is said to set up the new business under its wholly-owned venture capital arm, SC Ventures. Discussions are in early stages, and the specific launch date is yet to be determined. Standard Chartered Bank has been active in the digital asset field globally, having invested in various projects including cryptocurrency custody firm Zodia Custody and institutional trading platform Zodia Markets. In July last year, the bank announced its role as the first globally significant bank to offer spot cryptocurrency trading for institutional clients. A spokesperson for SC Ventures declined to comment. In December last year, SC Ventures posted on LinkedIn about developing a digital asset joint venture named Project37C, described as a lightweight financing and market platform. The announcement mentioned the joint venture company would provide custody, tokenization, and market access services, but did not specify external partners or define it as a primary brokerage.
Tags:
Link: Bloomberg: Standard Chartered Bank Plans to Establish Dedicated Cryptocurrency Trading Brokerage Business [Copy]
