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Standard Chartered joins crypto-focused Global Digital Finance alliance

Standard Chartered joins crypto-focused Global Digital Finance alliance

Standard Chartered has become the first bank to join the Global Digital Finance (GDF) Patron Board, an alliance of firms working collaboratively to raise the standards for custody, settlement finality, and brokerage across the crypto and digital assets landscape.

Over 100 global organisations are members of GDF and over 350 industry professionals from around the world have worked on developing the GDF codes of conduct in concert with market participants, policymakers and regulators.

Geoff Kot, global head of financial markets electronic trading & platforms, Standard Chartered, says: “We look forward to opportunities where we can collaborate with other global experts to support the adoption of digital assets as well as contribute, facilitate and lead the industry dialogue on digital assets standards. We believe thoughtful adoption of digital assets based on the principles of consumer protection and compliance can promote a more efficient and inclusive financial system, and banks have an ongoing responsibility to support the evolution of an open and trusted global financial architecture.”

GDF’s network of members and partners complements Standard Chartered’s digital assets strategy and its footprint across Asia, Africa and the Middle East.

SC Ventures, the bank’s innovation and ventures unit, partnered with Northern Trust to launch Zodia, a cryptocurrency custodian for institutional investors, which was registered with the Financial Conduct Authority this July. It also announced a partnership with BC Group in June 2021 to establish a digital asset brokerage and exchange platform for institutional and corporate clients in the UK and Europe.

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