Standard Chartered's venture capital arm, SCVentures, has invested in crypto market maker GSR, in a deal valuing the firm at over $1 billion.

Odaily Planet Daily News: Standard Chartered's venture capital arm, SCVentures, has invested in the crypto trading and market-making company GSR, valuing the firm at over $1 billion in this round of transaction. Founded in 2013 by former Goldman Sachs traders, GSR is currently in talks with strategic investors for further financing, potentially raising up to $150 million to expand its business operations.

This investment marks the first time SCVentures has become an external shareholder of GSR. The two parties plan to collaborate to promote the integration of traditional finance and the crypto market, as well as to expand the accessibility of tokenized products. GSR's business activities encompass crypto trading, market making, advisory services, asset management, and venture capital investments. (Bloomberg)