Banking Giant Standard Chartered’s Crypto Custodian in Talks for $50,000,000 Capital Raise: Report

A crypto custody firm majority owned by the world’s forty fourth largest financial institution is reportedly planning to boost extra capital.

Bloomberg reports that Zodia Custody Ltd, a subsidiary of Customary Chartered, is in talks to safe roughly $50 million in funding from buyers.

Based on Julian Sawyer, CEO of Zodia Custody, the capital improve will assist finance the corporate’s enlargement into new nations and territories whereas increasing its product vary.

Zodia Custody presently operates in 15 jurisdictions and has workplaces in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The custodian of digital property supports over 50 crypto property, together with Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), BNB, Polkadot (DOT), Tether (USDT), and USD Coin (USDC).

Along with majority shareholder Customary Chartered, Zodia’s different backers embrace Nationwide Australia Financial institution and monetary providers agency Northern Belief Corp. Final 12 months, Zodia Custody raised $36 million in a spherical from Japanese monetary providers agency SBI Group. Zodia Custody is now reportedly inquisitive about attracting a extra numerous group of buyers outdoors of the main monetary companies.

In December 2023, Metaco, a digital asset infrastructure supplier owned by Ripple Labs, introduced its integration with Zodia Custody.

“Due to the combination, establishments have entry to Zodia Custody’s bankable custody options by way of Metaco. The expanded collaboration between the 2 corporations follows a long-standing strategic relationship and is meant to additional increase networking choices for institutional buyers, offering them with further safe, dependable and appropriate end-to-end providers for digital property.”

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