In a bold move that screams “Hey, we’re still here and we have deep pockets!” Standard Chartered’s venture arm, SC Ventures, has decided to raise a cool $250 million for a cryptocurrency fund, set to launch in 2026. Of course, this highlights the growing love affair between big banks and digital currencies, as they start thinking, “Maybe this whole crypto thing won’t blow over as quickly as we thought.”
At the Money 20/20 fintech shindig in Riyadh on Monday, Gautam Jain, an operating partner, confidently announced their plan to roll out the crypto fund next year, with some backing from the ever-elusive Middle Eastern investors. Because, why not? The desert has always been a place for adventurous financial experiments, right? Jain further teased that SC Ventures will soon be working globally, with operations set to kick off in Saudi Arabia. Because if there’s one thing investors love, it’s global expansion and the promise of rich markets. 🌍💰
Now, let’s talk about SC Ventures, the brainchild of Standard Chartered that started its innovation journey back in 2018. Naturally, its mission? To focus on digital assets. Because, why not dive straight into the ever-so-predictable sea of cryptocurrencies, blockchain, and whatever else gets the buzzwords buzzing? As per a lovely Bloomberg report, Jain mentioned that they’re also preparing a $100 million fund aimed at investments in Africa, and might even launch a venture debt fund. No clear word yet if these funds will prefer crypto or fintech. A little mystery never hurt, right? 🤔💼
And of course, this announcement follows a somewhat less-than-glorious warning from Standard Chartered. Apparently, many firms holding digital assets have seen their market net asset value (mNAV) fall below a crucial level of one. And no, that doesn’t mean they’re doing great. Instead, it means these firms are struggling to raise more cash and buy more cryptocurrencies. Because, you know, crypto is known for being super stable. Not. 📉
In the face of this market wobble, the firm predicts that firms with strong fundamentals, like MicroStrategy and Bitfarms, will emerge victorious, riding high on low funding costs and staking yields. Because, why would we want to follow the herd when we can be the cool, elite group? 😎💸
Read More
- Best Controller Settings for ARC Raiders
- Stephen Colbert Jokes This Could Be Next Job After Late Show Canceled
- DCU Nightwing Contender Addresses Casting Rumors & Reveals His Other Dream DC Role [Exclusive]
- 7 Home Alone Moments That Still Make No Sense (And #2 Is a Plot Hole)
- Ashes of Creation Rogue Guide for Beginners
- 10 X-Men Batman Could Beat (Ranked By How Hard It’d Be)
- Gigi Hadid, Bradley Cooper Share Their Confidence Tips in Rare Video
- Gold Rate Forecast
- Alien films ranked: Which is the best entry in the iconic sci-fi franchise?
- Katy Perry and Justin Trudeau Hold Hands in First Joint Appearance
2025-09-16 19:48