Standard Chartered Plc has received a license to offer exchange services for digital currencies like bitcoin in the United Kingdom. The move to launch an exchange and brokerage platform for digital assets is in line with the banks’s strategy of diversifying its business operations away from its traditional roles of banking and financial services.
Standard Chartered Bank (SGB) has announced plans to launch a cryptocurrency and blockchain trading platform and brokerage in Singapore. The move comes as the bank seeks to tap into the rapidly expanding digital currency world. SGB’s move into the cryptocurrency space follows multi-billion dollar trading volumes from cryptocurrency exchanges in South Korea, Japan, Hong Kong and the Philippines.
Cryptocurrencies like Bitcoin have grown in popularity over the last few years. As Bitcoin (and others) continue to be accepted more in the mainstream, it is predicted that the total value of all cryptocurrencies will reach over $1 trillion in 2018. This is a dramatic increase from the $11.6 billion in 2017, and, as a result, more businesses are popping up to cater to this growing sector.. Read more about scb cryptocurrency and let us know what you think.Major bank Standard Chartered is launching a cryptocurrency exchange and brokerage service that will allow its customers to access cryptocurrencies such as bitcoin and Ether. Standard Chartered joins a growing list of the world’s largest banks involved in cryptocurrencies.
Standard Chartered Bank gets into cryptocurrencies
Standard Chartered PLC (STAN.L) said Wednesday that the bank’s innovation arm, SC Ventures, will create a brokerage and exchange platform for cryptocurrencies. The new exchange will be a joint venture between SC Ventures and BC Technology Group (0863.HK), a Hong Kong-based digital asset investment company. BC Technology operates OSL, the first cryptocurrency exchange licensed by the Hong Kong Securities and Futures Commission. Alex Manson, Head of SC Ventures, stated: We believe that digital assets are not far away anymore and will be adopted by the institutional market as a highly relevant asset class. We are laying the building blocks for a secure investment infrastructure, Manson said. Standard Chartered’s new platform and service for exchanging cryptocurrencies will be based in the UK and will target the European market. It aims to connect institutional investors with counterparties who trade in bitcoin, ether and other digital assets, the bank said, adding that it plans to launch the new service in the fourth quarter. Standard Chartered’s statement came shortly after HSBC chief executive Noel Quinn said his bank had no plans to launch a bitcoin trading desk or other crypto-currency related services. HSBC has also changed its policy to prohibit its clients from holding shares in publicly traded companies active in the cryptocurrency sector, such as. B. Microstrategy. Meanwhile, Standard Chartered joins a growing list of major banks that have embraced bitcoin, including Morgan Stanley, Goldman Sachs, Citigroup and DBS. What do you think of Standard Chartered’s launch of a cryptocurrency exchange and brokerage service? Let us know your comments in the section below.
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Frequently Asked Questions
What is the best broker for Cryptocurrency?
Cryptocurrency has developed into a new and disruptive asset class, and it is now a part of the global financial system. The global markets now have more than $500bn invested in cryptocurrency, which is a 7-fold increase over last year. However, the unregulated nature of cryptocurrency has caused many regulators to question the viability of this new asset class. In response, Standard Chartered has announced that it will soon launch its first cryptocurrency exchange, providing a fiat-to-cryptocurrency gateway for investors. Standard Chartered, a top international bank, just announced a new cryptocurrency exchange and brokerage service called Standard Chartered Bank Digital Currency. The bank says it will provide customers with access to a wide range of digital currencies and digital asset products, including equity and debt securities, in addition to credit and debit cards.
Do you need a broker to trade Cryptocurrency?
The popularity of cryptocurrencies is soaring, and many people are suddenly interested in trading them. So, what should you do? The answer depends on your planning and risk tolerance. If you want to be sure you’re just getting into the cryptocurrency trend, then you’ll want to start with individual tokens and use a ‘maker-taker’ fee structure. If you know you don’t want to hold the tokens you buy, then using a broker is the best option. Global, digital currency trading is experiencing a boom that has pushed some to wonder whether there’s a need for a crypto broker. A new business called bitmd may be the answer to that question. The startup is bringing crypto trading to the mainstream by allowing customers to make trades on an exchange through its online platform, with a focus on providing access to advanced trading tools.
Is Kraken a bank?
Kraken is a professional digital currency exchange specializing in Bitcoin trading and storage. Founded in 2011 by Jesse Powell, Kraken is headquartered in San Francisco, California. Kraken charges no fees to deposit bitcoins, nor does it charge fees to withdraw bitcoins. In addition, Kraken does not charge its users for any services other than the exchange of bitcoins for dollars, euro or other fiat currencies. Kraken also offers margin trading and lending on a limited basis. Kraken has received positive reviews from Bitcoin users and Bitcoin traders. Kraken has launched a new cryptocurrency exchange and brokerage in support of a new cryptocurrency named Kraken. The exchange will be an upgrade of the current site, which is based on the same code as the popular New York Stock Exchange. The new site is called Kraken Exchange, and it will be the only hub for trading Kraken, a new cryptocurrency that has been in development since early 2018.
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