Summary
- Standard Chartered’s SC Ventures has made a strategic investment in cryptocurrency market maker GSR.
- The two companies plan to strengthen a capital-markets services model centered on tokenization, including building infrastructure for the institutional digital-asset market and market making.
- Standard Chartered is expanding its cryptocurrency business across prime brokerage, custody and a digital-asset fund, while focusing on building an institutional ecosystem.
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SC Ventures, Standard Chartered’s fintech investment arm, has made a strategic investment in cryptocurrency market maker GSR.
The investment makes SC Ventures GSR’s first external strategic investor since the firm was founded in 2013, The Block reported on May 4. Financial terms were not disclosed.
The companies plan to jointly build institutional digital-asset market infrastructure focused on tokenization. GSR is also expanding a capital-markets services model that covers the full process, from pre-token issuance strategy to post-listing market making.
The deal builds on an existing relationship between the two firms. GSR had previously invested in Libeara, an SC Ventures-backed tokenization platform, as it expanded its digital-asset capital-markets business.
Standard Chartered is pursuing a strategy to build a cryptocurrency prime brokerage platform for institutional clients. GSR and Libeara are set to play key roles in that infrastructure.
“The next phase of digital assets will be a competition over infrastructure,” SC Ventures Chief Executive Officer Alex Manson said. He added that the firm is focused on building an institutional ecosystem that supports liquidity and market stability.
Standard Chartered is also expanding its digital-asset business through Zodia, its custody and trading subsidiary. The bank is also considering the launch of a $250 million digital-asset fund later this year.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
