Standard Chartered forms digital asset trading JV
Standard Chartered has launched a digital asset trading service for institutional traders in the UK and Europe.
The UK bank’s innovation unit, SC Ventures, has formed a joint venture (JV) with Hong Kong-based BC Group to develop a digital asset brokerage and exchange platform.
BC Group, which owns the Hong Kong-licensed digital asset platform OSL, will provide the underlying technology while SC will bring its brokerage expertise and access to European markets.
According to a statement, the project is designed to connect institutional traders to counterparties across markets, delivering access to deep pools of liquidity in bitcoin, ethereum and other crypto assets.
Cryptocurrency prices today: Bitcoin crosses $38,000 as outlook improves; Ether rises almost 5%
Cryptocurrency prices today: Bitcoin crosses $38,000 as outlook improves; Ether rises almost 5%
The sharp volatility observed in the crypto market seems to be disappearing and a chain of positive developments are pushing up the value of digital coins. Though popular cryptos are like Bitcoin and Ether are much lower than all-time highs, prices seem to be stabilising. Check latest crypto trends and rates.
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UPDATED: June 3, 2021 10:27 IST
Bitcoin, Ether and all other popular cryptocurrencies are trading higher on Thursday. (Photo: Reuters/Representational image)
The high volatility seen in the cryptocurrency market over the past month seems to be tapering, with prices of popular digital coins stabilising and rising.
Standard Chartered is joining the crypto bandwagon. The banking giant has partnered with BC Technology Group to create a digital-asset trading venture.