Bloomberg: Standard Chartered Bank is planning to establish a prime brokerage business focused on crypto trading

BlockBeats News, January 12 — According to Bloomberg, citing sources familiar with the matter, Standard Chartered Bank is planning to establish a prime brokerage business focused on cryptocurrency trading, demonstrating that global banks are intensifying their efforts to compete in digital assets.

Sources requesting anonymity said that this London-based bank will set up the new business under its wholly owned venture capital arm, SC Ventures. The discussions are still in the early stages, and the specific launch date of the services has not been determined.

Standard Chartered has been one of the more active institutions in the digital asset space among global banks, investing in several projects including crypto custody provider Zodia Custody and institutional trading platform Zodia Markets. In July last year, the bank announced it became the first global systemically important bank to offer spot cryptocurrency trading to institutional clients.

A SC Ventures spokesperson declined to comment. In December last year, SC Ventures posted on LinkedIn that it was developing a digital asset joint venture called “Project37C,” describing it as a “lightweight financing and market platform.” The announcement stated that the joint venture would provide custody, tokenization, and market access services, but did not mention external partners or define it as a prime brokerage.