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.