SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE
SC Ventures, the fintech investment arm of Standard Chartered, and Japanese financial conglomerate SBI Holdings are set to establish a digital assets investment firm in the UAE.
SC Ventures and SBI Holdings set to launch digital assets investment firm
The news follows Standard Chartered signing a memorandum of understanding (MoU) with the Dubai International Financial Centre to collaborate in the digital assets space in May this year.
The joint venture will initially receive a $100 million capitalisation from both companies, with plans to make investments in companies ranging from seed to Series C stages across the globe.
Target companies include those in the digital assets sector providing market infrastructure, risk and compliance tools, DeFi, tokenisation, consumer payments and the Metaverse.
“The region is fast becoming a hub for fintechs in the digital asset space due to its regulation, strengthening infrastructure and talent,” explains Alex Manson, CEO of SC Ventures.
Calling the joint venture an “important vehicle” to explore opportunities in the digital assets space, Manson adds that the new company “will leverage SC Ventures’ experience in digital assets through our ventures such as Zodia Custody and Zodia Markets, and through our investments in fintechs like Ripple and Metaco”.
