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Standard Chartered to Launch Crypto Prime Brokerage Under Venture Capital Arm

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Standard Chartered is making ready to deepen its push into digital belongings by organising a crypto prime brokerage, in accordance to individuals acquainted with the matter, as main international banks speed up efforts to compete for institutional crypto flows, reports Bloomberg.

The London-based lender plans to home the brand new enterprise inside SC Ventures, its wholly owned enterprise capital arm, relatively than inside its core company and funding financial institution.

Discussions stay at an early stage and the timing of any launch has but to be decided, the individuals mentioned, talking on situation of anonymity as a result of the plans usually are not public.

Strategic Fit Within SC Ventures

Standard Chartered has emerged as one of the crucial energetic international banks in digital belongings, backing infrastructure performs similar to crypto custodian Zodia Custody and institutional buying and selling venue Zodia Markets.

Back in July, Standard Chartered mentioned it grew to become the primary international systemically vital financial institution to provide spot crypto buying and selling to institutional purchasers. SC Ventures has additionally signalled broader ambitions within the house.

In December the unit mentioned it was growing a digital-asset three way partnership often known as Project37C, described as a “mild financing and markets platform” providing custody, tokenisation and market entry. While the announcement didn’t label the initiative a chief brokerage, it highlighted overlapping capabilities.

Banks Move Deeper Into Digital Assets

The transfer comes as regulators globally proceed discussions on revisiting crypto capital guidelines, whereas banks press forward regardless.

In the US, JPMorgan Chase & Co. has been weighing crypto buying and selling for institutional purchasers, whereas Morgan Stanley lately filed to introduce Bitcoin, Ether and Solana exchange-traded funds, inserting it in competitors with asset managers similar to BlackRock Inc. and ARK Investment Management.

US spot crypto ETFs now oversee roughly $140 billion in belongings, reflecting rising institutional participation. Prime brokerages — which give financing, securities lending, execution and custody — are more and more seen as crucial infrastructure for crypto’s subsequent part of progress.

In April, Ripple acquired Hidden Road for $1.25 billion whereas crypto prime dealer FalconX agreed in October to purchase 21Shares. As institutional capital flows deepen, Standard Chartered’s transfer alerts that international banks intend to compete throughout the total crypto market stack — not simply on the edges.

Standard Chartered and AirAsia Parent Explore Ringgit-Backed Stablecoin

Standard Chartered, Bank Malaysia and Capital A, the dad or mum firm of AirAsia, have additionally taken a major step into the country’s digital asset landscape with plans to discover a ringgit-pegged stablecoin.

The two corporations signed a letter of intent on Friday to work on the initiative below Malaysia’s Digital Asset Innovation Hub, a regulatory framework launched by Bank Negara Malaysia (BNM) in June to encourage experimentation in tokenization and blockchain-based finance.

The publish Standard Chartered to Launch Crypto Prime Brokerage Under Venture Capital Arm appeared first on Cryptonews.

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