Standard Chartered to Launch Institutional Crypto Custody Solution

Alex Manson, the head of SC Ventures, confirmed to CoinDesk Monday the firm is building what he claimed would become one of the most-secure crypto custody solutions on the market. Initially, SC Ventures had been looking at creating a market service, but realized it had to go a couple of steps back as many wouldn’t touch the digital asset space “with a flagpole” until they had ready access to an institutional-grade storage solution.

Custodial offerings currently on the market, Manson said, don’t have the proper security required for clients to store millions of dollars in digital assets. By providing the fundamental market infrastructure, Manson said that SC Ventures saw an opportunity to kick-start the institutional adoption of cryptocurrencies.

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