StanChart Said to Prepare Crypto Expansion With Prime Brokerage

Standard Chartered Plc plans to set up a prime brokerage for crypto trading, people with knowledge of the matter said, as global banks step up efforts to compete in digital assets.

The London-based lender will house the new business within its wholly owned venture capital unit SC Ventures, said the people, who asked not to be identified as the plans aren’t public. Discussions are at an early stage and it’s not clear when the service will launch, the people said.

Standard Chartered has been one of the more active global banks in digital assets, backing ventures including crypto custodian ...