Banking News

Standard Chartered to Launch Institutional Crypto Custody Offering

Standard Chartered to Launch Institutional Crypto Custody Offering

(22 July 2020 – Singapore) SC Ventures, the venture and innovation arm of Standard Chartered, is building a crypto custody offering for the institutional market and the first pilot could launch later this year.

Although the custodian solution will be based in UK, it will be open to clients from around the world. At least 20 institutional investors have expressed interested in this solution that supports bitcoin and security tokens.

“If digital assets more broadly are here to stay as an asset class, then you will need the infrastructure to keep them safe,” said the head of SC Ventures Alex Manson.

“There is an opportunity to kick-start the institutional adoption of cryptocurrencies by providing the fundamental market infrastructure. Solutions currently available lack the security required to secure millions of dollars in digital assets and lack function segregation” Mr Manson added

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