StanChart unit to launch cryptocurrency trading platform

0
13
FILE PHOTO: People walk outside the main branch of Standard Chartered in Hong Kong, China August 1, 2017. REUTERS/Bobby Yip

A Standard Chartered 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, 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here