Standard Chartered is developing a new crypto custody solution. Aimed at the institutional market, the firm expects the first pilot to launch before the end of the year.

According to the head of SC Ventures, Alex Mason, who spoke with CoinDesk, the firm is working with over 20 firms on the new custody solution. Security is its top priority, as large institutional investors will need safe and secure storage for millions of dollars' worth of crypto.

In creating a service for large investors, Standard Chartered is seeking to drive crypto adoption in the institutional market.