#What is Standard Chartered's Plan for a Crypto Prime Brokerage?
Standard Chartered, a prominent British multinational bank, is actively exploring the launch of a crypto prime brokerage through its venture capital division, SC Ventures. This initiative specifically targets institutional investors, offering a suite of services that includes custody, financing, trading, and clearing for digital currencies. The discussions regarding this proposed cryptocurrency brokerage are still in the initial stages, and no definitive decisions have been made at this point.
As part of its broader digital asset strategy, SC Ventures has already made significant investments in various platforms, including Zodia Custody. This custodian was designed to cater to institutional clients, having been produced in collaboration with Northern Trust. SC Ventures operates as the bank's innovation arm, strategically aligning traditional financial services with the evolving crypto ecosystem.
#How Will This Impact Institutional Clients?
In the past month, Standard Chartered has expanded its collaboration with Coinbase to create comprehensive crypto prime services aimed at institutional clients. This partnership aims to include essential services like trading, custody, staking, and lending, thus reinforcing the regulated digital asset infrastructure. This enhanced infrastructure will address the growing demand for reliable and compliant cryptocurrency solutions in institutional markets. Institutional investors may find this development beneficial as it potentially offers them more streamlined and secure options to engage in the expanding digital currency landscape.