Banking Giant Standard Chartered’s Crypto Custody Firm Zodia Launches in Hong Kong
Zodia Custoday, a crypto custody firm owned by
Standard Chartered, Northern Trust, and
Japan’s SBI, is launching services in Hong Kong, CNBC reported Sunday. The company is based in London and registered in the U.K. with the Financial Conduct Authority (FCA), in Ireland with the Central Bank of Ireland (CBI), and in Luxembourg with the Commission de Surveillance du Secteur Financier (CSSF).
Julian Sawyer, the CEO of Zodia, explained that
Hong Kong is a market where institutional demand for crypto is stronger than retail demand, making it the ideal market for her company.
Zodia is commencing its service rollout in Hong Kong in phases. In the initial phase, its goal is to offer services for a limited set of crypto assets to clients in Hong Kong. Additionally, the company is actively in talks with both the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority to ensure regulatory compliance.
The crypto custody firm has been actively expanding in Asia and has recently expanded its services to Japan, Singapore, and Australia.
