Standard Chartered is entering the market? Globally Systemically Important Banks accelerate the deployment of crypto prime brokerage services

【Blockchain Rhythm】 The global banking system is making new moves. On January 12, Standard Chartered Bank is planning to establish a dedicated prime brokerage division for cryptocurrency trading, which means traditional financial giants are intensifying their competition in the digital asset space.

Sources familiar with the matter revealed that this new business will be under SC Ventures, Standard Chartered’s wholly-owned venture capital subsidiary. However, it is still in the early discussion stage, and the specific launch date has not been determined.

In fact, Standard Chartered has always been quite active in digital assets. It has long invested in projects like the crypto custody firm Zodia Custody and the institutional trading platform Zodia Markets. In July last year, Standard Chartered also announced that it became the world’s first systemically important bank to offer spot cryptocurrency trading services to institutional clients, a significant milestone in itself.

Notably, in December last year, SC Ventures posted on social media about developing a digital asset joint venture codenamed “Project37C,” described as a “lightweight financing and market platform.” According to the announcement, this joint venture will provide services such as custody, tokenization, and market access, although it did not specify that it would operate as a prime brokerage model at that time. This new plan seems to be a move to formalize and advance this business further.