A crypto custody enterprise that’s majority-owned by the world’s Forty fourth-largest financial institution is reportedly planning to boost extra capital.
Bloomberg studies that Zodia Custody Ltd, a subsidiary of Normal Chartered, is in talks to safe roughly $50 million in funding from traders.
In keeping with Zodia Custody chief government Julian Sawyer, the capital elevate will assist fund the growth of the enterprise into new nations and territories whereas widening the product vary.
Zodia Custody presently serves 15 jurisdictions and has places of work in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian helps over 50 crypto belongings and this contains Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), BNB, Polkadot (DOT), Tether (USDT) and USD Coin (USDC).
In addition to the bulk proprietor Normal Chartered, Zodia’s different backers embrace the Nationwide Australia Financial institution and monetary providers agency Northern Belief Corp. Final yr, Zodia Custody raised $36 million in a spherical by Japanese monetary providers big SBI Group. Zodia Custody is now reportedly thinking about attracting a extra various set of traders exterior of enormous monetary companies.
In December of 2023, the Ripple Labs-owned digital belongings infrastructure supplier Metaco introduced integration with Zodia Custody.
“The combination allows establishments to entry Zodia Custody’s bank-grade custody options by way of Metaco. The expanded collaboration between the 2 firms follows a longstanding strategic relationship and is designed to additional construct out networked choices for institutional traders, enabling them to realize further safe, dependable and compliant end-to-end digital asset service capabilities.”
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