SC Ventures, the investment division of Standard Chartered Bank, and SBI Holdings, the Japanese financial conglomerate, have joined forces to establish a $100 million cryptocurrency initiative in the United Arab Emirates.
The new vehicle, dubbed Digital Asset Joint Venture, will focus on companies involved in market infrastructure, risk and compliance, decentralized finance (DeFi), and tokenization.
The Digital Asset Joint Venture
According to the official press release, the Digital Asset Joint Venture plans to allocate funds across various investment stages, spanning from seed to Series C funding, with a primary emphasis on global investment opportunities.
This new vehicle is also expected to leverage SC Ventures’ experience in digital assets via its investments in fintech firms like Ripple and Metaco, according to SC Ventures’ CEP Alex Manson.
The exec also added that the Digital Asset Joint Venture plans to make strategic and minority investments in areas such as market infrastr
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