SC Ventures, the innovative arm of Standard Chartered, and the dynamic Japanese conglomerate SBI Holdings are teaming up to pioneer a groundbreaking digital asset joint venture right in the heart of the United Arab Emirates (UAE). This exciting collaboration is set to make waves, with a laser focus on investing in a wide spectrum of digital assets. Picture this: market infrastructure, risk and compliance tools, the intriguing world of decentralized finance (DeFi), tokenization wonders, seamless consumer payments, and the ever-expanding universe of the metaverse. Brace yourselves for a journey into the future of finance!
SC Ventures Collaborates With SBI Holdings
SC Ventures, the innovative arm of Standard Chartered, unveiled an exciting collaboration on Thursday. They’re teaming up with SBI Holdings, a dynamic Japanese financial powerhouse, to create a game-changing Digital Asset Joint Venture investment company in the vibrant landscape of the United Arab Emirates (UAE).
Announcing their exciting collaboration, the two companies plan to infuse a whopping $100 million into the vehicle! This injection of funds sets the stage for some major moves, as detailed in the announcement. Get ready for a thrilling ride!
The joint venture is set to dive into the exciting world of digital assets, targeting investments in a diverse range of companies. From shaping market infrastructure to crafting cutting-edge risk and compliance tools, from exploring the possibilities of decentralized finance (DeFi) to the fascinating realm of tokenization, and even delving into consumer payments and the captivating metaverse – we’re all in. Get ready for an adventure where innovation meets investment!
Alex Manson, the dynamic CEO of SC Ventures, shared an exciting revelation about the UAE’s skyrocketing status as a fintech haven for digital assets. He highlighted the rapid growth, attributing it to the robust infrastructure and a pool of top-notch talent. The game-changing joint venture is set to capitalize on SC Ventures’ wealth of experience in the digital assets realm, gained through ventures like Zodia Custody and Zodia Markets, as well as strategic investments in trailblazing companies like Ripple and Metaco.
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The Digital Asset Joint Venture isn’t just aiming for the stars; it’s planning to take the global fintech scene by storm. Manson enthusiastically revealed that the venture is geared up to make a splash in investments, spanning from the initial seed stages to the high-flying Series C funding rounds. The focus? Global domination. This isn’t just a partnership; it’s a commitment to shaping the future of fintech on a worldwide scale. Get ready for a journey that transcends borders and embraces innovation at every turn.
SBI Holdings CEO Yoshitaka Kitao enthusiastically expressed, “This move strengthens the strategic bond between SBI Holdings and SC Ventures, building on our investments in some exciting ventures like Solv, Zodia Custody, and Myzoi. We’re diving into the vibrant world of SC Ventures’ portfolio companies, and the journey is just getting started!”
Standard Chartered signed a memorandum of understanding with the Dubai International Financial Centre (DIFC), a special economic zone, in May to collaborate in the digital asset space, including digital asset custody. Salmaan Jaffery, Chief Business Development Officer at the DIFC, commented:
“We congratulate SC Ventures and SBI Holdings on their drive to help shape the future of finance as they forge ahead with their first Digital Asset Joint Venture in Dubai International Financial Centre.”
What do you think about Standard Chartered’s SC Ventures joining forces with SBI Holdings to set up a digital asset joint venture in the UAE? Let us know in the comments section below.