Standard Chartered to launch institutional crypto custody solution

Standard Chartered to miss growth targets amid coronavirus fears | Standard  Chartered | The Guardian  

Standard Chartered is the latest bank to get into the crypto custody business, unveiled that its innovation, ventures and fintech investments unit, SC Ventures, has been working on a solution for the institutional market that would support cryptocurrencies such as bitcoin but also security tokens. The first pilot of the service could launch before the end of the year. The firm has been developing “one of the most secure crypto custody solutions on the market,” adding that as many as 20 institutions had expressed interest in the solution. Though the venture will be based in the UK, it will be open to clients from around the world. With this new offering, the firm was looking to provide institutional investors with a custodial solution that caters to this segment’s specific needs notably in terms of security, citing features such as segregated accounts. This could potentially kick-start the institutional adoption of cryptocurrencies. SC Ventures has been “developing a venture to meet the demands of institutions for an end-to-end institutional grade custodian of digital assets, which meets regulatory standards.

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