Standard Chartered Bank Plans to Build Crypto Prime Brokerage Platform, Integrating Custody, Financing, and Market Access

Odaily News Standard Chartered Bank plans to establish a cryptocurrency prime brokerage business through its venture capital arm, SC Ventures. The services will cover custody, financing, and market access, and the initiative is currently in the early preparation stages. This move helps the bank circumvent the Basel III capital requirement of up to 1250% for permissionless crypto assets. Standard Chartered has previously been involved in crypto projects such as Zodia Custody and Zodia Markets and is set to become the first globally systemically important bank to offer spot crypto trading in 2025. (Bloomberg)