Standard Chartered Ventures Targets $250M Digital Assets Fund With Middle East Investor: Bloomberg

Standard Chartered venture arm, SC Ventures, plans to raise $250 million for a fund dedicated to digital assets in the financial services sector, Bloomberg reported. The fund is expected to launch in 2026, with participation from investors in the Middle East.

Operating member Gautam Jain revealed the plans during the Money 20/20 fintech event in Riyadh on Monday, signaling the firm’s intention to expand its role in the growing global fintech and digital assets ecosystem.

According to Jain, the capital will fund financial services, particularly in sectors like tokenization, blockchain technology, and other regulated digital asset plays.

SC Ventures Eyes $100M Africa Fund, Expands Crypto Strategy

Alongside the $250 million initiative, SC Ventures aims to create a $100 million fund for Africa. The unit is also considering its first venture debt fund as part of its wider strategy. Jain did not confirm whether the Africa or debt funds will specifically target digital assets or fintech startups.

Founded in 2018, SC Ventures was established to back technology startups and develop innovative projects for Standard Chartered. The firm launched operations in Saudi Arabia in January 2025 and intends to create a dedicated team in the kingdom.

By 2026, it plans to establish a domestic Saudi fund focusing on minority investments and new business launches.

The development adds to Standard Chartered’s expanding digital asset strategy. Earlier this year, the bank became the first globally significant financial institution to offer spot trading for Bitcoin and Ethereum through its U.K. branch.

It has also advanced tokenization via its blockchain platform, Libeara, and teamed up with exchanges such as OKX to provide collateral solutions involving cryptocurrencies and tokenized money market funds.

Similarly, Standard Chartered (Hong Kong) earlier partnered with Animoca Brands and HKT to launch an HKD-backed stablecoin under HKMA’s new regime, aiming to improve payment efficiency and drive wider adoption of digital assets in Hong Kong and beyond.

In the early days of 2025, Standard Chartered secured a Luxembourg license to provide crypto custody under the EU’s MiCA framework. The move leverages Luxembourg’s strong regulatory environment to meet rising client demand. This came after the bank launched crypto custody services in the UAE after obtaining a DFSA license in Dubai.

MENA Fintech Surges as Standard Chartered Expands; Africa Heats Up

Notably, the timing of this SC Ventures announcement coincides with rapid growth in the Middle East and North Africa fintech sector. While the investors were not mentioned in Standard Chartered, Binance received a record $2B stablecoin investment from Abu Dhabi’s MGX earlier this year, giving the firm a minority stake and advancing AI–blockchain integration.

Weeks later, the Saudi Central Bank took its first indirect step into Bitcoin by buying 25,656 shares, $60 billion, of Strategy, suggesting continuous digital asset exposure in the region.

According to data platform Magnitt, fintech startups in the region raised $274 million in the first half of 2025, with Saudi Arabia leading the way. Investment activity was concentrated in payment solutions, lending, and insurance.

Similarly, Saudi Arabia aims to host 500 fintech companies by 2030, compared with fewer than 300 today. The Money 20/20 Riyadh event reflected this ambition, drawing more than 1,000 investors and 150 startups to the kingdom.

Alongside SC Ventures’ plans, several significant deals were unveiled at the conference. Saudi payments provider Hala raised $157 million in one of the region’s largest early-stage funding rounds, led by TPG and Sanabil, a unit of the Public Investment Fund.

Buy now, pay later firm Tamara secured an asset-backed facility of up to $2.4 billion from Goldman Sachs and Citigroup. In another development, STV and Wamid, the technology arm of the Saudi Tadawul Group, agreed to launch the country’s first trading platform for private assets.

Global technology players also made announcements. Google confirmed the rollout of Google Pay and Google Wallet in Saudi Arabia, with services available initially to Al Rajhi Bank and Riyad Bank customers. Meanwhile, ride-hailing firm inDrive said it will begin operations in the kingdom later this month.

Notably, Blockchain.com announced the opening of Nigeria’s first major international crypto office while also targeting Ghana, Kenya, and South Africa in its African expansion.

Similarly, Ripple partnered with Chipper Cash to power low-cost, faster cross-border payments across nine countries, and Coinbase teamed up with stablecoin exchange Yellow Card to expand access in 20 nations. Together, these moves highlighted Africa’s growing role in global crypto adoption.

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