Standard Chartered announced it has joined the Global Digital Finance (GDF) Patron Board, a unique international alliance of some of the world’s most innovative crypto natives, fintech companies, and banks.
The first bank to join the association as a patron member, Standard Chartered will collaborate with other members to advocate and accelerate the adoption of best practices for crypto and digital assets, through a network of strategic innovators across the digital assets value chain that develops industry and governance standards and facilitate engagements between regulators, policymakers 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, and offers a platform where industry leaders can come together to create compelling global opportunities and shape the future of digital assets.
Geoff Kot, Global Head of Financial Markets Electronic Trading & Platforms, 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.”
Standard Chartered has been working with various industry partners and fintech 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.
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. In addition, the Bank is an active member of various professional and industry associations, working closely with regulators to shape the industry position and manage the transition to digital currencies into the financial system.
