The $fintech investment arm of #StandardChartered, #SCVentures, and #SBIHoldings join forces in $100M Digital Asset Venture in #UAE. Read More The post SC Ventures and SBI Holdings Collaborate to Launch Digital Asset Joint Venture in UAE appeared first on Crypto News Land.
- SC Ventures and SBI Holdings launch $100M Digital Asset Joint Venture in UAE.
- Focus on digital assets: Market infrastructure, DeFi, tokenization, Metaverse, and more.
- Strategic partnership expands SC Ventures’ global footprint in digital assets landscape.
SC Ventures, the innovation and fintech investment arm of Standard Chartered, is teaming up with SBI Holdings, a Japanese financial conglomerate, to establish a Digital Asset Joint Venture investment company in the United Arab Emirates (UAE). The partnership aims to inject $100 million into the venture, focusing on strategic investments across the digital assets landscape.
The joint venture will prioritize investments in various areas, including market infrastructure, risk and compliance tools, decentralized finance (DeFi), tokenization, consumer payments, and the Metaverse. This move comes as the UAE solidifies its position as a fintech hub, boasting robust infrastructure and a burgeoning pool of talent.
Alex Manson, CEO of SC Ventures, expressed enthusiasm about the venture, stating, “The Digital Asset Joint Venture will be an important vehicle to explore the emerging digital asset ecosystem opportunities globally.” Manson highlighted SC Ventures’ experience in digital assets through ventures like Zodia Custody and Zodia Markets, as well as investments in fintech giants Ripple and Metaco.
The strategic collaboration follows Standard Chartered’s memorandum of understanding with the Dubai International Financial Centre in May 2023, focusing on digital asset custody. Manson emphasized the joint venture’s plan to make strategic and minority investments in critical areas of the digital asset landscape, reflecting a broader strategy to expand their footprint in the region and across the digital assets ecosystem.
Salmaan Jaffery, Chief Business Development Officer of the Dubai International Financial Centre, congratulated the collaboration, emphasizing DIFC’s position at the forefront of regulating the digital assets landscape. As the world eagerly anticipates the future of finance, SC Ventures and SBI Holdings embark on shaping it through their innovative Digital Asset Joint Venture in the heart of the Dubai International Financial Centre.
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The post SC Ventures and SBI Holdings Collaborate to Launch Digital Asset Joint Venture in UAE appeared first on Crypto News Land.