StanChart is preparing crypto expansion with prime brokerage
It will house the new business within its wholly owned venture capital unit, SC Ventures
[SINGAPORE] Standard Chartered plans to set up a prime brokerage for cryptocurrency trading, sources said, as global banks step up efforts to compete in digital assets.
The London-based lender will house the new business within its wholly owned venture capital unit SC Ventures, said sources who asked to be anonymous as the plans are not public. Discussions are at an early stage, and it is not clear when the service will launch, they added.
StanChart has been one of the more active global banks in digital assets, backing ventures including crypto custodian Zodia Custody and institutional trading platform Zodia Markets.
In July, it said that it…
