Standard Chartered's venture arm SC Ventures invests in crypto market maker GSR, valuation exceeds $1 billion

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

This investment marks SC Ventures' first time becoming 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 scope encompasses crypto trading, market making, consulting, asset management, and venture capital. (Bloomberg)