According to a ChainCatcher report citing Bloomberg, Standard Chartered Bank plans to establish a crypto prime brokerage business through its venture capital arm, SC Ventures. The service will cover custody, financing, and market access, and is currently in the early planning stages. This move would help the bank avoid Basel III's stringent capital requirements of up to 1250% for unapproved crypto assets. Standard Chartered has previously participated in crypto-related projects such as Zodia Custody and Zodia Markets, and aims to become the first globally systemically important bank to offer spot crypto trading by 2025.
Standard Chartered to Launch Crypto Prime Brokerage, Expanding Digital Asset Operations
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Summary
Standard Chartered is set to launch a crypto prime brokerage through SC Ventures, offering custody, financing, and market access. This move targets the digital asset market and aims to circumvent Basel III's 1250% capital requirement for unpermissioned assets. The bank has previously worked on projects such as Zodia Custody and Zodia Markets and plans to offer spot crypto trading by 2025. Altcoins to watch may benefit from increased institutional access through this initiative.
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