Standard Chartered has announced the launch of institutional crypto brokerage and exchange in Europe. IStandard Chartered, the british banking giant has plans to launch an institutional crypto brokerage and exchange for European and U.K. clients. 

Highlights of this announcement: 

BC Group and SC Ventures will set up a joint venture in the U.K. It was to connect institutional traders to counterparties and let them trade in cryptocurrencies for bitcoin (BTC) and ether (ETH). This joint venture goal is to launch in the fourth quarter of 2021, with regards to the regulatory approvals. 

The chief information officer of BC Group, SC Ventures will be the CEO of the new unit. Nick Philpott, former decision-making director and head of market building at Standard Chartered and now venture lead at SC Ventures, will be COO of the joint venture. 

The stand he takes was like this- “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," mentioned Alex Manson. The new company will deliver a brokerage and exchange platform to allow safe adoption and trading by the world’s largest and most demanding investors. 

SC Ventures is also in the process of launching an institutional crypto custody service, Zodia Custody. For that advantage, SC Ventures partnered with Northern Trust last December.