Breaking the Crypto Mold Standard Chartered’s Venture Arm Ventures into UAE with New Crypto Fund

Standard Chartered Ventures to Launch Cryptocurrency Fund in UAE

SC Ventures, the fintech investment arm of the prestigious British bank Standard Chartered, is about to embark on an exciting new adventure in the digital asset realm. Teaming up with SBI Holdings, a powerful Japanese financial conglomerate, they are set to establish a “Digital Asset Joint Venture” investment company in the United Arab Emirates. Cue the drumroll!

In the immortal words of Alex Manson, the CEO of SC Ventures, the goal of this joint venture is to “make strategic and minority investments in areas such as market infrastructure, risk management and compliance tools, DeFi, tokenization, consumer payments, and the metaverse.” That’s like putting together a dream team with the combined powers of The Avengers, Justice League, and the Power Rangers! They’re ready to take on the digital asset world like superheroes fighting crime.

Manson recognizes the UAE’s rising status as a fintech hub, thanks to its top-notch infrastructure and exceptional talent. But this joint venture won’t be confined to just one region. Oh no, their vision is as grand and expansive as the universe itself! They’re going to explore the emerging digital asset ecosystem opportunities on a global scale, like intrepid explorers traversing uncharted territory.

Speaking of venturing into the unknown, this partnership isn’t Standard Chartered’s first rodeo. Back in May 2023, they signed a memorandum of understanding with the Dubai International Financial Centre, allowing them to provide digital asset custody services to their institutional clients worldwide. It’s like they’ve been equipped with a state-of-the-art vault to safeguard the treasures of the digital world.

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But wait, there’s more! In case you thought Standard Chartered was only focused on digital asset custody, think again. They’ve set their sights on the other side of the digital economy as well. In a collaboration with PricewaterhouseCoopers China, they even produced a white paper exploring the potential applications of a central bank digital currency in the Greater Bay Area of China. They’re on a quest to uncover the secrets of the digital realm, like intrepid explorers seeking hidden treasures.

And just when you thought their digital adventures were over, they surprised us with yet another joint venture. Standard Chartered and SBI Holdings have birthed a magnificent entity called Zodia, an institutional cryptocurrency custody platform. Operating in Hong Kong and supporting a whopping 38 cryptocurrencies, Zodia has recently spread its wings to Japan, Singapore, and Australia. It’s like they’ve created a digital empire spanning continents.

So, my fellow digital asset enthusiasts, get ready for this remarkable collaboration between SC Ventures and SBI Holdings. It’s like witnessing a fusion of genius minds, coming together to conquer the digital asset universe. Keep your eyes peeled, because this joint venture is set to reshape the landscape of the digital world, leaving no stone unturned and no digital asset unexplored. It’s time to buckle up and embark on this thrilling journey. Adventure awaits!

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