What happened?
Standard Chartered’s venture unit, SC Ventures, plans to establish a $250 million fund dedicated to digital assets in the financial services sector, according to Bloomberg. The fund is expected to launch in 2026 with investors from the Middle East. In addition, SC Ventures aims to create a $100 million fund for Africa and is considering a venture debt fund as part of its broader strategy.
Who does this affect?
This plan affects stakeholders in the financial services industry, particularly those involved in digital assets and fintech startups in the Middle East and Africa. As an expansion of Standard Chartered’s digital asset strategy, it also impacts the bank’s existing customers and partners. This includes exchanges such as OKX, with whom the bank has collaborated on tokenized money market funds and cryptocurrency collateral solutions.
Why does this matter?
The creation of the fund marks a significant commitment to the financial technology sector and specifically digital assets. It mirrors the increasing importance and acceptance of digital currencies by major financial institutions around the globe. The initiative has the potential to fuel innovation in blockchain technology, tokenization, and other digital asset sectors while contributing to the growth of fintech and digital economies in the Middle East and Africa.