SC Ventures, Standard Chartered Bank’s venture arm, has taken a stake in GSR, a crypto market-making and liquidity firm, as the firm deepens its push into digital assets, according to recent statement.
The investment values GSR at $1 billion-plus, Bloomberg separately reported. The firm, which was founded in 2013 by former Goldman Sachs traders, is also in discussions to raise up to $150 million in additional funding to scale its operations.
The investment is the first time GSR has brought in an outside strategic shareholder in its thirteen-year history.
Standard Chartered has expanded beyond its early experimentation with digital assets. It became the first globally systemically important bank to offer institutional spot crypto trading last July and is developing a crypto prime brokerage.
The bank also supports Zodia Markets and Zodia Custody as part of its institutional crypto ecosystem.
GSR provides liquidity across over 200 digital assets, has backed 300-plus crypto firms, and offers advisory services including token design, treasury management, and capital formation.
Source: https://cryptobriefing.com/gsr-1b-valuation-standard-chartered/
