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Standard Chartered Bank to launch a Cryptocurrency exchange in Britain and Europe

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3 years ago

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Standard Chartered Bank

Standard Chartered, one of the major bank of Europe announces its plan to launch a cryptocurrency exchange for its rich clients.

On Wednesday, the bank said that it’s planning to launch a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients.

According to the Reuters report, the new exchange will be created by a joint venture between SC Ventures, the bank’s innovation arm, and BC Technology Group. Currently, BC Technology Group operates Hong Kong-licensed cryptocurrency exchange OSL.

StanChart’s new platform will target the European market, connecting institutional traders with counterparties trading bitcoin, ether and other digital assets, the bank said.

“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. We are constructing the building blocks for a safe and reliable investment infrastructure,” Alex Manson of SC Ventures stated.

Really this move by Standard Chartered to establish crypto exchanges comes at a point when countries like China are tightening regulations.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.