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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.
The bank's SC Ventures unit is working with the digital asset company on the JV, which will connect institutional traders to counterparties across markets, delivering access to deep pools of liquidity in bitcoin, Ethereum and other crypto assets. 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.
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