Crypto Dubai Set to Boom: Standard Chartered and SBI Invest $100 Million in UAE
Major financial players are doubling down on the future of digital assets. SBI Holdings and Standard Chartered’s investment arm, SC Ventures, have joined forces to set up a $100 million joint venture in the United Arab Emirates, targeting crypto Dubai as a key hub for innovation. This significant investment signals a strong belief in the growth potential of the crypto market within the region.
Novem – SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, is partnering with SBI Holdings, a Japanese financial conglomerate, to capitalize on opportunities in digital asset infrastructure and related fields. Standard Chartered’s investment arm, SC Ventures, and SBI Holdings have announced plans to create a $100 million crypto firm or “Digital Asset Joint Venture."
This strategic alliance, backed by considerable financial power, aims to fuel advancements across the digital asset ecosystem. The $100 million investment vehicle created by investment SC Ventures and SBI Holdings plans a $100 million investment vehicle to invest in companies working in areas including digital asset market infrastructure, risk, and compliance solutions. This includes supporting the development of robust and secure platforms for trading, custody, and other essential services.
Standard Chartered\'s (STAN) venture arm is teaming up with Japanese financial services firm SBI Holdings to form an investment company with $100 million backing. This initiative, SB Holdings x Standard Chartered SC Ventures, the investment arm of Standard Chartered, and Japanese financial conglomerate SBI Holdings have partnered to further promote the adoption of digital assets and blockchain technology globally.
The joint venture represents a significant vote of confidence in the UAE\'s regulatory environment and its commitment to fostering innovation within the crypto space. The $100 million investment is expected to attract further investment and talent to the region, solidifying Dubai\'s position as a leading global crypto hub. This partnership between Standard Chartered and SBI is poised to accelerate the development and adoption of digital assets on a global scale.