Standard Chartered Bank's venture capital arm and SBI Holdings jointly launch a $100 million cryptocurrency fund

Standard Chartered's SC Ventures and SBI Holdings jointly launched a $100 million cryptocurrency venture capital fund, focusing on DeFi, payments, tokenization, and crypto infrastructure.

Standard Chartered Bank and SBI Holdings Collaborate on $100 Million Fund

According to The Block, SC Ventures, the investment arm of Standard Chartered Bank, is partnering with Japanese financial group SBI Holdings to establish a $100 million cryptocurrency fund in the United Arab Emirates.

The two institutions plan to make venture investments globally in areas such as DeFi, payments, tokenization, and crypto infrastructure through a joint venture, covering seed rounds to Series C financing.

Alex Manson, CEO of SC Ventures, stated:

This joint venture will leverage SC Ventures' expertise in digital assets, such as through Standard Chartered's Zodia Custody and Zodia Markets, and draw from our investments in fintech companies like Ripple and Metaco.

Positive Outlook? SBI Holdings Actively Invests in Venture Capital Funds

In May of this year, SC Ventures divested its stake in Metaco, which was acquired by Ripple for $250 million, as reported by CoinDesk. Metaco is the partner that HSBC recently teamed up with to enter the tokenized securities custody market.

HSBC Enters Tokenized Securities Custody Market, Continues to Venture into Blockchain Financial Innovation

SC Ventures and SBI Holdings have previously invested in similar startups, including Solv, Zodia Custody, and myZoi.

Earlier reports indicated that SBI Holdings launched a 100 billion yen fund in Japan, with participation from traditional financial giants such as Sumitomo Mitsui Banking Corporation.

SBI Holdings Launches 100 Billion Yen Fund, Focusing on Fintech, AI, and Web3 Startups