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SC Ventures, the venture capital arm of Standard Chartered, is partnering with Japanese conglomerate SBI Holdings to establish a digital asset joint venture investment company in the United Arab Emirates (UAE).

The joint venture, which will be capitalized with $100 million, aims to invest in companies across the digital asset spectrum, including market infrastructure, risk and compliance tools, DeFi, tokenization, consumer payments, and the Metaverse.

This development comes just in time for the upcoming Future of Digital Assets conference hosted by Benzinga on Nov. 14, where discussions about digital asset investments and the future of cryptocurrencies are expected to take center stage. The new joint venture aligns with the themes of the conference, further emphasizing the growing interest and investment in the digital assets space.

The region is fast becoming a hub for fintechs in the digital asset space due to its regulation, strengthening infrastructure and talent. The Digital Asset Joint Venture will be an important vehicle to explore the emerging digital asset ecosystem opportunities globally, said Alex Manson, CEO, of SC Ventures.

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The joint venture plans to make strategic and minority investments in areas such as market infrastructure, risk management and compliance tools, DeFi, tokenization, consumer payments, and the Metaverse.

This is one of several strategic initiatives and we will continue to invest and expand our footprint in the region as well as across the digital assets ecosystem, Manson added.

We are thrilled to announce our partnership to establish a Digital Asset Joint Venture in UAE together with SC Ventures and bring to bear the collective capabilities of both our organizations in the digital asset space, said Yoshitaka Kitao, SBI Holdings, Inc. Representative Director, Chairman, President & CEO.

The Digital Asset Joint Venture plans to make investments ranging from seed to Series C funding with a focus on investing globally.

This initiative is a significant step forward in the digital asset space and is expected to have a substantial impact on the future of digital assets.

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