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Standard Chartered, OSL Parent in Pact to Create Digital Assets Platform

Initially targeting the European market, the U.K.-based company will seek to connect institutional traders to counterparties across markets.

Standard Chartered Bank Building, Hong Kong
Standard Chartered Bank Building, Hong Kong

A Standard Chartered unit and the parent company of digital asset platform OSL said they have formed a venture to create a digital asset brokerage and exchange platform for institutional and corporate clients in Europe.

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  • The venture between SC Ventures, the innovation and ventures unit of Standard Chartered, and BC Technology Group aims to launch in Q4, subject to regulatory approvals.
  • BC Group Chief Information Officer Usman Ahmad will be the CEO of the new company while Nick Philpott of SC Ventures will be COO.
  • The venture will pair OSL's digital asset technology with Standard Chartered's global connections and network and brokerage experience.
  • Initially targeting the European market, the U.K.-based company will seek to connect institutional traders to counterparties across markets, delivering access to pools of liquidity in bitcoin, ethereum and other digital assets.
  • SC Ventures announced a venture with Northern Trust in December to launch Zodia Custody, an institutional-grade custody solution for digital assets. SC Ventures has also invested in blockchain technology provider Metaco and is working with the Bank of Thailand and the Hong Kong Monetary Authority to explore distributed ledger interoperability for cross-border fund transfers.
  • OSL is said to be the world’s first SFC-licensed, listed, digital asset wallet-insured, Big 4 audited digital asset trading platform for institutions and professional investors.

Kevin Reynolds

Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.

Kevin Reynolds