SCVentures, the venture arm of Standard Chartered Bank, invests in crypto market maker GSR, valuing it at over $1 billion.

Odaily reported that SCVentures, the venture capital arm of Standard Chartered Bank, has invested in crypto trading and market making firm GSR, with this round valuing GSR at over 1 billion US dollars. GSR, founded by former Goldman Sachs traders in 2013, is currently in talks with strategic investors for further fundraising, which could be as much as 150 million US dollars, to expand its business operations.

This investment marks the first time SCVentures has become an external shareholder in GSR. Both parties plan to promote the integration of traditional finance and crypto markets through cooperation, and to expand the accessibility of tokenized products. GSR's business covers areas such as crypto trading, market making, consulting, asset management, and venture capital. (Bloomberg)