Search results for SC Ventures
Crypto
10 European financial firms launch joint blockchain RL1 targeting regulated markets
Ten European financial institutions have begun operating RL1, a joint blockchain network targeting regulated financial markets and tokenised assets. RL1 was established in Luxembourg as a European cooperative and launched as a jointly owned venture by its members. Founding members include ABN Amro, SEB and others, with equal decision-making rights over governance and development. RL1 is a private permissioned network based on infrastructure developed by German fintech SWIAT.
Crypto
Digital Asset raises additional $10 million from Shinhan Financial, SC Ventures
Digital Asset, developer of the Canton blockchain, has raised an additional $10 million from South Korea’s Shinhan Financial Group and Standard Chartered’s SC Ventures. TheBlock reported the investment increased the company’s ongoing funding round to $365 million from $355 million, at the same $2 billion valuation as the previous round. Digital Asset last month announced a $355 million fundraising led by a16z crypto with participation from major institutions.
Crypto
Standard Chartered considers folding parts of Zodia Custody business into investment bank
Standard Chartered is reviewing a plan to bring parts of Zodia Custody, a crypto custodian in which it holds a majority stake, into its investment banking unit. The bank is considering moving Zodia’s custody business into an in-house team that provides related services within its corporate and investment bank, while leaving Zodia to operate independently as a software-as-a-service platform for digital asset custody. A restructuring announcement could come this month.
