Standard Chartered’s Zodia Custody to Launch in HK

Zodia Custody, the cryptocurrency custodian owned by British banking giant Standard Chartered, is set to launch its services in Hong Kong.
 

• Julian Sawyer, the chief executive officer of Zodia, said in an interview with CNBC that the Hong Kong market is mainly driven by institutions, rather than retail customers.
• “The Hong Kong government and the regulators see digital assets as the future and also want Hong Kong to be a hub,” Sawyer said.
• Zodia launched its services for financial institutions in Singapore in early September, claiming to be the first bank-owned entity to provide institutional crypto custody services in the country.
• The firm also launched its services in Japan and Australia earlier this year.
• Zodia Custody is a London-headquartered digital asset custodian founded in 2020 by Standard Chartered. It had over US$825.8 billion in total assets as of October 2023, according to the firm’s third quarter financial report.
• Standard Chartered is a London-headquartered multinational banking conglomerate founded in 1969 with over 653 branches and 83,000 employees worldwide.
• Hong Kong has previously announced its ambitions to become a global crypto hub. Despite mainland China’s ban on crypto trading, the special administrative zone has adopted a more permissive regulatory attitude toward digital assets.

​Source: Forkast