StanChart’s VC Arm Backs Crypto Firm GSR at $1 Billion Valuation

Standard Chartered’s wholly owned venture capital unit SC Ventures has invested in crypto trading firm GSR, as the bank pushes deeper into the digital-assets market.

The deal values GSR, which was founded in 2013 by former Goldman Sachs traders, at over $1 billion, a spokesperson for the firm said. GSR is in talks with strategic investors to raise more money — as much as $150 million — as it looks to scale up operations, said a person familiar with the matter who asked not to be named as the details are confidential.