SC Ventures, the fintech investment arm of Standard Chartered, is partnering with Japanese financial conglomerate SBI Holdings to establish a “Digital Asset Joint Venture” investment company in the UAE. The joint venture aims to make strategic and minority investments in various areas, including market infrastructure, risk management, compliance tools, DeFi, tokenization, consumer payments, and the metaverse. While the focus is on the UAE’s growing fintech hub, the joint venture will also explore global opportunities in the emerging digital asset ecosystem. Standard Chartered has been actively involved in the crypto custody business, launching the institutional cryptocurrency custody platform Zodia in partnership with SBI Holdings. Additionally, the bank has collaborated with PwC China to produce a white paper on applications for central bank digital currency in the Greater Bay Area of China. In May 2023, Standard Chartered obtained approval to launch digital asset custody services for its institutional clients worldwide through a memorandum of understanding with the Dubai International Financial Centre.

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Information	Details
Geography	Middle East
Countries	🇦🇪 🇯🇵 🇭🇰 🇸🇬 🇦🇺 🇨🇳 🇲🇴
Sentiment	positive
Relevance Score	1
People	Alex Manson
Companies	PwC China, SBI Holdings, Standard Chartered, SC Ventures, Dubai International Financial Centre (DIFC)
Currencies	None
Securities	None