A logo of Standard Chartered is displayed at its main branch in Hong Kong, China, Aug. 1, 2017. REUTERS/Bobby Yip/File Photo
A Standard Chartered PLC (STAN.L) unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients, the bank said on Wednesday.
The new exchange will be created by a joint venture between SC Ventures, the bank’s innovation arm, and BC Technology Group (0863.HK), which operates Hong Kong-licensed cryptocurrency exchange OSL.
The move from Asia, Africa and Middle East-focused StanChart is one of the strongest endorsements yet from a mainstream lender for cryptocurrencies, as global banks juggle clients’ interest in the digital coins with concerns about their risks.
StanChart’s new platform will target the European market, connecting institutional traders with counterparties trading bitcoin, ether and other digital assets, the bank said.
The move marks a contrast with StanChart rival HSBC, whose chief executive told Reuters last month the bank has no plans to launch a trading desk for cryptocurrencies. read more
“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,” said Alex Manson of SC Ventures.
OSL was the first cryptoexchange to be licensed by Hong Kong’s Securities and Futures Commission.
Our Standards: The Thomson Reuters Trust Principles.
Source: https://www.reuters.com/technology/stanchart-unit-launch-cryptocurrency-trading-venture-2021-06-02/
Peli Products has launched the Peli™ 9730 Remote Area Lighting System, a next-generation portable lighting…
Polaris Inc. is set to revive its popular Free Snowmobile Rides program in February 2026
Slone Partners has appointed George Quinn as Partner, Fractional Talent, strengthening its focus on flexible
Hanshow has appointed Philippe Brochard as Chairman of its Advisory Committee, strengthening the company’s governance…
Tiiny AI’s Pocket Lab makes headlines at CES 2026 with a pocket size personal AI…
Study by fäm Luxe highlights how Dubai has built ecosystem designed to attract and retain…