Standard Chartered to Enter Cryptocurrency Prime Brokerage Space, Reports Say

According to a report by Bloomberg on the 12th, UK banking giant Standard Chartered is planning to launch a cryptocurrency prime brokerage service targeted at institutional investors.

Prime brokerage services provide large investors such as hedge funds and asset management firms with comprehensive financial services including asset custody, lending, trade execution, and settlement.

The bank intends to house this new venture within its venture capital arm, 'SC Ventures'. Sources indicate that the project is still in its early stages, with the launch date yet to be determined.

The bank's venture division...