Standard Chartered Ventures Launches Mainland Business: Investment Blockchain Project

According to the IPO, the Standard Chartered Bank announced yesterday that the group's SC Ventures will be launched in Shanghai. This is the first financial technology venture support platform established by Standard Chartered Bank in mainland China to build banks, customers and finance. The Trinity Innovation Ecosystem of Science and Technology.


Standard Chartered Bank said that today's banking industry is facing transformation and development, digital transformation and financial technology applications are the general trend of development.

Zhang Xiaolei, president, president and vice chairman of Standard Chartered Bank (China) Co., Ltd., said: FinTech is changing the ecosystem of the entire financial industry, and the company needs to integrate the resources of internal employees, external customers and innovative companies in an open manner. The bank's own digital innovation and innovation culture promoted the reshaping of bank genes, and Standard Chartered Ventures was an attempt by Standard Chartered Bank for this purpose.

Therefore, the launch of Standard Chartered Ventures in Shanghai not only marks the official launch of Standard Chartered's investment, support and cooperation for foreign financial technology projects, but also opens up financial services for Chinese customers, science and technology enterprises and Standard Chartered's more than 60 markets worldwide. The connection of resources.

Standard Chartered Ventures consists of three parts: the Innovation Lab , the Venture Capital Fund and the Business Incubator .

Among them, the Innovation Lab is one of the important projects of Standard Chartered Ventures, which aims to accelerate change and provide excellent services to customers. So far, more than 1,800 innovative solutions have been collected from employees around the world.

Under the venture capital fund and business incubator, Standard Chartered Ventures has made strategic investments in several financial technology companies around the world, mainly involving digitalization, innovative technology development and blockchain applications.

In the blockchain application, Standard Chartered began to use blockchain technology to handle cross-border payment in 2016. In early 2018, it established a financial technology investment department, invested in Ripple coins, and cooperated with Siemens Financial Services Group and TradeIX to launch the industry. A smart guarantee based on blockchain technology that digitizes the entire process of trade finance.

In terms of digital technology, the data conversion service provider Paxata is invested to provide a self-service data adaptive analysis platform to help users convert raw data into analyzable data.

Secure news and content sharing platform provider Symphony Communications also received an investment in Standard Chartered, and this strategic investment also provides Standard Chartered with a deeper understanding of the future of corporate communications and workflow collaboration spaces.

In terms of digitization, Standard Chartered successfully tested and launched the first digital retail bank in Cotedia in 2018, launching similar models in Uganda, Tanzania and Ghana.

In fact, before Standard Chartered Ventures landed in China, Standard Chartered Bank has made many attempts to develop and actively participate in many financial technology projects.

Standard Chartered Bank and Ant Financial Co., Ltd. use blockchain technology to launch real-time cross-border money transfer services for individual customers in Hong Kong and the Philippines, while ensuring transaction security, greatly reducing the time and cost required for remittances; opening the bank platform to enterprises The API interface enables it to call the required financial products and services anytime and anywhere, improve the efficiency of cooperation between banks and enterprises; integrate with Lianyi, optimize the enterprise credit evaluation model and improve financing efficiency through blockchain technology, and optimize supply for large enterprises. Chain transparency allows small and medium-sized suppliers to enjoy more favorable financing rates; as the only foreign bank to participate in the development of the “Bay Area Trade Finance Blockchain Platform”, helping large enterprise customers and their small and medium-sized suppliers to more effectively with banks Docking and financing.

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Source | This article was written by IPO (ID: ipozaozhidao), the text is for reference only.