To create its own platform, Standard Chartered has entered into a partnership agreement with BC Group, which owns the Hong Kong trading platform OSL.
Standard Chartered (# 8 by assets in the UK banking market) will launch an exchange for European institutional clients on which crypto assets will be traded in the fourth quarter of 2021.
For the bank, it has partnered with the BC Group, which owns the Hong Kong-based trading platform OSL. Standard Chartered uses the technologies of this platform to develop its crypto-exchange.
Today, @bctechgroup and @osldotcom entered into a joint-venture with @StanChart’s @scventuresDNA to establish a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe
More details on this exciting venture:https://t.co/IFvJxmWZLy pic.twitter.com/EpBas6h5pR— OSL (@osldotcom) June 2, 2021
Usman Ahmad, CIO of BC Group, will head the cryptocurrency exchange, and Nick Philpott, a member of Standard Chartered venture capital, will become the COO of the new company.
Earlier, one of the largest US investment banks, Goldman Sachs, recognized bitcoin as an asset class. A bank representative also reported on the growing demand for cryptocurrencies among institutional investors and asset managers.
Standard Chartered is a British bank formed in 1969 as a result of the merger of the Chartered Bank of India, Australia and China and Standard Bank of British South Africa. Its head office is located in London.
BC Group is an investment holding company whose main activity is related to crypto assets and blockchain platforms.