THELOGICALINDIAN - Major cyberbanking association Standard Chartered is ablution a cryptocurrency barter and allowance account giving its audience admission to cryptocurrencies such as bitcoin and ether Standard Chartered joins a growing account of above banks common that accept accepted cryptocurrency
Standard Chartered Bank Diving Into Crypto
Standard Chartered PLC (STAN.L) said Wednesday that the bank’s addition arm, SC Ventures, will authorize a cryptocurrency allowance and barter platform.
The new barter will be a collective adventure amid SC Ventures and BC Technology Group (0863.HK), a Hong Kong-based advance aggregation specializing in agenda assets. BC Technology operates OSL, the aboriginal cryptocurrency barter to be accountant by Hong Kong’s Securities and Futures Commission.
Alex Manson, arch of SC Ventures, commented:
“We are amalgam the architecture blocks for a safe and reliable advance infrastructure,” Manson added.
Standard Chartered’s new cryptocurrency barter belvedere and account will be based in the U.K. and ambition the European market. It aims to affix institutional investors with counterparties trading bitcoin, ether, and added agenda assets, the coffer said, abacus that it affairs to barrage the new account in the fourth quarter.
The advertisement by Standard Chartered came anon afterwards HSBC Chief Executive Officer Noel Quinn said that his coffer has no plans to barrage a bitcoin trading board or any added cryptocurrency services. HSBC has additionally afflicted its action to bar clients from captivation stocks of accessible companies that are abundant into the crypto sector, like Microstrategy.
Meanwhile, Standard Chartered joins a growing account of above banks that accept accepted bitcoin, including Morgan Stanley, Goldman Sachs, Citigroup, and DBS.
What do you anticipate about Standard Chartered ablution a crypto barter and allowance service? Let us apperceive in the comments area below.
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