Standard Chartered and BC Group plan European digital asset trading platform
Standard Chartered is joining forces with BC Technology Group to build a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe.
BC Group will provide the technology behind it Hong Kong-based digital asset platform, OSL, while Standard Chartered brings its global network and experience in brokerage and providing access to European market
BC Group CIO Usman Ahmad will be CEO of the new company, and Nick Philpott of SC Ventures will be COO.
For SC Ventures, the JV builds on a recent partnership with Northern Trust to develop a digital custody service, called Zodia, aimed at institutional investors.
Alex Manson, SC Ventures, says: “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.
“We are constructing the building blocks for a safe and reliable investment infrastructure: on the back of Zodia Custody, which will ensure safe and compliant custody for institutional investors, 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.”