Standard Chartered’s venture capital arm, SC Ventures, has joined forces with Japanese financial conglomerate SBI Holdings to establish a $100 million digital asset investment fund in the United Arab Emirates (UAE). The collaboration, as revealed in a press release on November 9,...
Standard Chartered’s venture capital arm, SC Ventures, has joined forces with Japanese financial conglomerate SBI Holdings to establish a $100 million digital asset investment fund in the United Arab Emirates (UAE).
The fund’s primary focus is to strategically invest in digital asset companies across various sectors, including infrastructure, risk management, decentralized finance, tokenization, payments, and the metaverse. The scope of investments will span from seed funding to Series C in a bid to ensure a comprehensive approach to nurturing emerging entities in the sector.
SC Ventures CEO Alex Manson expressed his optimism about the venture and highlighted the UAE’s ongoing emergence as a hub in the fintech and digital asset space.
Salmaan Jaffery of DIFC congratulated the partners for shaping the future of finance with their first digital asset joint venture in Dubai. He also emphasized DIFC’s leadership in digital asset regulation and its commitment to providing an environment that nurtures investment and innovation.
Yoshitaka Kitao, CEO of SBI Holdings, emphasized that the new joint venture solidifies SBI’s relationship with Standard Chartered and will combine both organizations’ capabilities for significant results in the digital asset space.
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