Standard Chartered Plc has said it is set to launch a cryptocurrency exchange and brokerage service.
The bank said its innovation arm, SC Ventures, would establish the platform.
The move will be a joint venture between SC Ventures and BC Technology Group, a Hong Kong-based investment company specialising in digital assets, according to Bitcoin.com.
BC Technology operates OSL, the first cryptocurrency exchange to be licensed by Hong Kong’s Securities and Futures Commission.
“We have a strong conviction that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class. We are constructing the building blocks for a safe and reliable investment infrastructure,” the Head of SC Ventures, Alex Manson, said.