Standard Chartered Bank's Venture Arm Invests in Crypto Market Maker GSR Valuing It at Over $1 Billion

SCVentures, the venture capital arm of Standard Chartered Bank, has made a substantial investment in GSR, a leading crypto trading and market making firm.

GSR, founded by former Goldman Sachs traders in 2013, is currently valued at over $1 billion following this round of funding. The company's business covers various areas including crypto trading, market making, consulting, asset management, and venture capital.

The investment marks the first time SCVentures has become an external shareholder in GSR and paves the way for cooperation between traditional finance and the crypto market.