Standard Chartered Bank to launch a Cryptocurrency exchange in Britain and Europe

Standard Chartered, one of the major bank of Europe announces its plan to launch a cryptocurrency exchange for its rich clients.

On Wednesday, the bank said that it’s planning to launch a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients.

According to the Reuters report, the new exchange will be created by a joint venture between SC Ventures, the bank’s innovation arm, and BC Technology Group. Currently, BC Technology Group operates Hong Kong-licensed cryptocurrency exchange OSL.

StanChart’s new platform will target the European market, connecting institutional traders with counterparties trading bitcoin, ether and other digital assets, the bank said.

“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,” Alex Manson of SC Ventures stated.

Really this move by Standard Chartered to establish crypto exchanges comes at a point when countries like China are tightening regulations.