Standard Chartered Eyes Institutional Crypto Prime Brokerage
4.9 Banking Standard Chartered plans a crypto prime brokerage for institutions via SC Ventures, offering custody, trading, and financing, while sidestepping Basel III capital rules. No launch date is set as talks continue.
Standard Chartered is advancing plans to launch a crypto prime brokerage aimed at institutional clients, including hedge funds and asset managers, through its innovation arm SC Ventures. The initiative seeks to provide services such as custody, financing, trading, and market access for digital assets, while strategically avoiding stringent Basel III capital requirements by housing the business within SC Ventures. The bank has already established a presence in the digital asset sector with investments in Zodia Custody and Zodia Markets, and recently became the first major global bank to offer institutional spot crypto trading. The new prime brokerage is expected to address institutional demand for regulated, comprehensive crypto services, though discussions remain ongoing and no launch date has been set. This move is seen as a significant step in bridging traditional finance with the crypto ecosystem and may set a precedent for other banks navigating regulatory frameworks.
