Sumary of European joint venture aims to boost crypto’s appeal to banks:
- Banks and other corporations have generally taken a cautious approach to digital asset trading, whether it’s cryptocurrency or tokens, but a joint venture in Europe hopes to make such activities more approachable..
- London-based SC Ventures, a unit of Standard Chartered Bank, is working with Hong Kong-based digital asset company BC Technology Group to establish a digital brokerage and exchange platform for institutional and corporate clients in the U.K..
- “The growth of digital-asset trading has drawn the attention of institutional customers, many of whom are looking to access the asset class for the first time,”.
- Total market capitalization reached more than $1.4 trillion last month and $1.56 trillion in early June with a total value of trading volume on major digital-asset exchanges of more than $4 billion per day..
- BC Technology Group is a parent of Hong Kong Securities and Futures Commission and operator of digital asset platform OSL in Asia..
- The platform would connect institutional traders with counterparts across markets and deliver access to bitcoin, Ethereum and other digital assets….