Market Analysis Report (03 Jun 2021) PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Market Analysis Report (03 Jun 2021)

Market Analysis Report (03 Jun 2021) PlatoBlockchain Data Intelligence. Vertical Search. Ai.

The British bank, Standard Chartered, plans to launch a cryptocurrency brokerage and exchange for institutional clients based in Europe. SC Ventures, the corporate venture capital arm of Standard Chartered Bank, has partnered with BC Group, the parent company of the Hong Kong regulated cryptocurrency exchange OSL, for the initiative.

The joint venture will be set up in the U.K. and will connect institutional investors and traders to counterparties and let them trade in popular cryptocurrencies such as bitcoin (BTC) and ethereum (ETH). Depending on regulatory approval, the venture aims to launch in Q4 of 2021. 

Alex Manson, head of SC Ventures, comments that “We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class,” continuing, “The new company will provide a brokerage and exchange platform to enable safe adoption and trading by the world’s largest and most demanding investors.”

SC Ventures is also in the process of launching an institutional crypto custody service, Zodia Custody, in partnership with Northern Trust. They are also investors in Swiss blockchain firm Metaco, “to explore blockchain interoperability for cross-border fund transfers”.

Source: https://www.cryptocompare.com/email-updates/daily/2021/jun/03/

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