StanChart unit, BC Group to create crypto-exchange platform | Hongkong Business
, Hong Kong
29 views

StanChart unit, BC Group to create crypto-exchange platform

It will target corporate clients in the UK, and Europe.

Standard Chartered’s innovation and venture unit, SC Ventures, has partnered with BC Technology Group to create a digital asset brokerage and exchange platform for UK and Europe clients.

Hong Kong-listed BC Group’s CIO Usman Ahmad will lead the company as its CEO; whilst Nick Philpott of SC Ventures will be its COO.

“Standard Chartered and SC Ventures are known globally as leaders in fintech innovation and banking, and the partnership fits with our geographical expansion and growth strategy as it allows OSL to rapidly enter the European market with a leading partner,” Wayne Trench, BC Group’s OSL CEO, said.

BC Group is the parent company of digital asset platform OSL, which is the first to be licensed by Hong Kong’s Securities and Futures Commission.

The joint venture is underpinned by OSL’s digital-asset technology and Standard Chartered’s global network and experience in brokerage.

“We are constructing the building blocks for a safe and reliable investment infrastructure: on the back of Zodia Custody, which will ensure safe and compliant custody for institutional investors,” Alex Manson of SC Ventures said.

“The new company will provide a brokerage and exchange platform to enable safe adoption and trading by the world’s largest and most demanding investors.”

Standard Chartered had partnered with Zodia Custody in December 2020. It has also invested in core blockchain technology provider Metaco.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Hongkong Business in your inbox
It bundles home insurance with fibre broadband service, network security and a smart home kit.
It eyes stricter regulation over prime brokers, amongst others.
This does not apply to vaccinated persons from extremely or very high-risk places.
This is expected to speed up drug discovery which at present takes up to 15 years.
It is looking to penetrate residential areas in Tier 1 cities.
Clients can buy and sell securities in 10 markets worth up to US$10m daily.
The new Mercedes-AMG CLS 53 made its public debut in Hong Kong last 19 June.
The loan from Hang Seng Bank will fund its green projects.
It will be issued through HKMA’s Central Moneymarkets Unit.
The revised guidelines will take effect on January 2022.
The airline carried some 24,000 passengers during the month.
This forms part of the HKMA’s Regtech roadmap.
This is two places down from its 2020 ranking
The demand for medical office buildings in Hong Kong is high, but hard to get.
It is considering about $2b in the US share sale.