Standard Chartered Partners with BC Group to Establish European Digital Asset Trading Platform

SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered Bank, recently announced its partnership with BC Technology Group (BC Group), an investment holding company. The partners aims to establish a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe.

According to the official press release, the joint venture is expected to launch in Q4 2021, subject to regulatory approvals. It will make the partners' position strong in the development of global digital-asset infrastructure.

BC Group Chief Information Officer Usman Ahmad will be CEO of the new company, and Nick Philpott of SC Ventures will be COO.

The joint venture will be underpinned by BC Group’s leading OSL digital-asset technology and Standard Chartered’s global network and experience in brokerage and providing access to European markets.

Based in the UK, and initially targeting the European market, the company will connect institutional traders to counterparties across markets, delivering access to deep pools of liquidity in Bitcoin, Ethereum and other digital assets.

As Fazzaco reported earlier, Standard Chartered has signed a memorandum of understanding (MoU) with Tazapay​, a digital payments platform, to deliver digital escrow services to buyers and sellers looking to trade globally on Proxtera, a business-to-business marketplace network.