According to Foresight News, SC Ventures, the investment arm of Standard Chartered Bank, and Japanese financial group SBI Holdings have partnered to set up a $100 million cryptocurrency company in the United Arab Emirates. The joint venture aims to invest in decentralized finance, tokenization, infrastructure, payments, and virtual worlds on a global scale, covering seed to Series C funding rounds.
Foresight News previously reported that SBI Holdings also plans to launch a separate fund by the end of this year, investing up to JPY 100 billion ($663 million) in Web3, artificial intelligence, and fintech startups.