In December, Standard Chartered Bank temporarily ceased its operations in Iran, and it is no longer able to offer services to non-U.S. holders of Iranian bank accounts. The bank has announced that it will not be resuming its services to non-U.S. holders of Iranian bank accounts. But Standard Chartered does not intend to penalize non-U.S. holders of Iranian bank accounts. Therefore, it has decided to offer its services of exchange of foreign currencies to clients in Ireland.
Standard Chartered Bank is introducing the first European-based cryptocurrency trading platform called Standard Chartered Crypto Trading (SCCT) for clients in Ireland. The platform had been operating globally since August 2016, but from Monday, 4th October 2017, it will be available to Irish clients for buying, selling, trading, holding and transferring cryptocurrencies.
Standard Chartered has recently announced a partnership with two leading Irish companies to provide services for leading cryptocurrency firms. The two firms, Neumann Law and Coin Consultancy, will use the services of Standard Chartered to offer blockchain solutions to clients in Ireland.. Read more about what is crypto trading and let us know what you think.
TL;DR Summary
• Standard Chartered will utilize Zodia Custody to provide financial institutions with the finest crypto broker services. Ethereum, Bitcoin, Ripple, and Bitcoin Cash will all be part of the crypto management firm.
Standard Chartered, a British bank, has stated that it would use its Zodia Custody business to offer crypto broker services in Ireland. The crypto broker will focus on institutional investment contracts, which have grown in popularity in Ireland in recent months.
The Standard Bank-affiliated business intends to offer institutional investing services in Ireland. The Zodia Custody Company offers a crypto exchange and management solution for both expert and beginner investors for Standard Bank.
Zodia Custody and its ability to provide cryptocurrency brokerage services
SC Ventures aided the establishment of Zodia Custody in late 2020. Northern Trust, a financial management business, backed this alternative company as well. Because the two businesses have prior experience in the bitcoin industry and Blockchain technology, this subsidiary will benefit from their expertise.
Zodia Custody is known for handling crypto investments for financial institutions. Since December of last year, Zodia Custody has been in contact with a number of prospective clients. The firm’s work has received overwhelmingly favorable feedback, prompting it to register with the Financial Conduct Authority (FCA).
Zodia Custody has confirmed that its crypto broker services would concentrate on Ether, Bitcoin, Litecoin, Ripple, and Bitcoin Cash, according to their release. In addition, Standard Chartered has chosen to create a website for businesses interested in utilizing cryptocurrency.
SC Ventures is now a part of the cryptocurrency management team.
SC Ventures has been operating as a cryptocurrency broker since June 2021. This brokerage firm partnered with BC Technology Group to boost the legitimacy of its cryptocurrency offerings. SC Ventures wants to make it possible for financial institutions to purchase bitcoin and ether via its platform.
Mellon Bank has also started providing crypto broker services in New York and has set up a virtual renewal platform in Dublin. Galway’s cryptocurrency investing system was developed by the technological company Blockdaemon.
Ireland has continued to develop in the cryptocurrency industry, despite the fact that not all members of the European Union support it. Despite the legal fight against Binance Group and its activities, the UK insists on crypto regulation. Cryptocurrency popularity continues to rise in Ireland, prompting major crypto exchanges like Kraken to expand their operations.
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This article broadly covered the following related topics:
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