Through this network, Standard Chartered will collaborate with innovators across the digital assets value chain that develop industry and governance standards
Standard Chartered has become the first bank to join the Global Digital Finance’s (GDF) patron board to advocate and accelerate the adoption of best practices for crypto and digital assets.
The GDF is an international alliance of some of innovative crypto natives, fintech companies and banks worldwide.
Through this network, Standard Chartered will collaborate with innovators across the digital assets value chain that develop industry and governance standards as well as facilitate engagements between regulators, policy makers as well as professional and industry bodies.
GDF’s extensive network of members and partners complements Standard Chartered’s digital assets strategy and its footprint across Asia, Africa and the Middle East.
Standard Chartered has been working with various industry partners and fintechs to develop innovative technology and facilitate industry dialogue on digital assets standards.
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.
Geoff Kot, Global Head of Financial Markets Electronic Trading & Platforms at Standard Chartered said: We are excited to be joining the GDF Patron Board and 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, he said.
Lawrence Wintermeyer, Executive Co-Chair of GDF said: We are delighted that Standard Chartered has joined the ten members of our Patron Board setting GDF’s strategic direction.
Their leadership will greatly support financial institutions helping to raise the standards for custody, settlement finality, and brokerage across the crypto and digital assets landscape.