SC Ventures, Standard Chartered’s flagship venture financing arm, has partnered with BC Technology, a Chinese investment business, to develop a new digital asset trading platform aimed at the institutional market, according to Decrypt.
“We have a strong belief that digital assets are here to stay and will be adopted by the institutional market as a highly relevant asset class,” SC Ventures CEO Alex Manson told Reuters.
Standard Chartered’s new crypto trading platform, in principle, includes five of the largest Over the Counter (OTC) traders, as well as four exchanges.
The platform’s goal is to provide brokerage services as well as a cutting-edge exchange platform to enable safe adoption and trading among the world’s top crypto investors.
The new platform will primarily target investors in the United Kingdom and other European countries, allowing them to trade Bitcoin and Ethereum, as well as a few other cryptocurrencies with lesser market capitalization, according to the report.
According to CoinDesk, the first test trade is planned to take place in July and will feature the world’s ten largest digital exchanges.