Standard Chartered, a British banking giant, has just unveiled it plans to launch a cryptocurrency exchange for European institutional clients through a partnership with BC Group.
SC Ventures, Standard Chartered’s innovation and ventures division, has joined forces with BC Group, the owner of Hong-Kong licensed cryptocurrency trading platform OSL, for the launch.
According to both companies, the crypto exchange aims to offer institutional clients from Europe and the UK the possibility of trading with multiple cryptocurrencies, including Bitcoin and Ethereum. The platform is expected to go live in Q4 2021.
Alex Manson, head of SC Ventures, 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. The new company will provide a brokerage and exchange platform to enable safe adoption and trading by the world’s largest and most demanding investors.”