London bank Standard Chartered has created an investment unit for financial technologies and innovation, the bank reported today.
Under the heading ‘SC Ventures,’ the unit will focus on the bank’s existing “minority investments in fintech,” as reported by Reuters, while also searching for new fintech investments.
The bank’s current fintech investments include companies such as blockchain consultancy Ripple, which recently became a fintech investor itself.
As well as searching for opportunities outside of the bank, SC Ventures will also act as an “internal consultant” to help promote financial innovation within the bank, stated the Financial Times.
Read more at Reuters and the Financial Times.
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