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.
