StanChart’s VC arm has invested in crypto firm GSR at a price of $1-plus

SC Ventures, the venture arm of Standard Chartered Bank, has taken a stake in GSR, a crypto market making and liquidity company, as the company steps up its push into digital assets, according to a recent statement.

The investment values ​​GSR at $1-plus, Bloomberg reported separately. In the year Founded in 2013 by former Goldman Sachs traders, the firm is also in talks to raise up to $150 million in additional funding to grow its operations.

The investment is the first time GSR has brought in a foreign strategic shareholder in its thirteen-year history.

Standard Chartered has expanded beyond its initial experiments with digital assets. Last July, it became the first globally significant bank to offer institutional space crypto trading and is developing a major crypto broker.

The bank supports Zodia Markets and Zodia Conservancy as an institutional crypto ecosystem.

GSR offers liquidity for over 200 digital assets, supports 300-plus crypto companies, and provides advisory services including token design, treasury management and capital formation.

“We are delighted to welcome SC Ventures as a strategic investor and partner,” said Xin Song, CEO of GSR. “The institutional digital asset markets are growing rapidly, and the companies best positioned to lead will be those that combine deep capital markets expertise with trusted banking infrastructure.”