Standard Chartered’s investment and innovation arm has made a strategic investment in GSR, the crypto market maker and capital markets firm – a deal that marks a notable milestone for both parties and reflects the accelerating convergence of traditional banking and digital asset infrastructure.

With the investment, SC Ventures has become the first external strategic shareholder for GSR since its founding in 2013. The terms of the deal were not disclosed. The announcement was published on GSR’s website and through an official press release on Tuesday.

“We are excited to welcome SC Ventures as a strategic investor and partner,” GSR CEO Xin Song said in a statement. “Institutional digital asset markets are maturing rapidly, and…