According to Bloomberg, Standard Chartered Bank plans to establish a crypto asset prime brokerage business within its wholly-owned venture capital arm, SC Ventures, to participate in institutional-level crypto trading competition. The initiative is still in early discussions. This move may help avoid the capital requirements under Basel III that impose up to a 1250% risk weight on "unlicensed crypto assets" such as Bitcoin and Ethereum within the investment banking system. In recent years, Standard Chartered has continued to increase its digital asset efforts, supporting Zodia Custody and Zodia Markets, and last year became the first global systemically important bank to offer spot crypto trading to institutional clients.