Zodia Custody raises $36 million from SBI Digital Asset, etc. ── strengthens payment products for institutional investors | coindesk JAPAN

Crypto asset (virtual currency) custody company Zodia Custody has raised $36 million (approximately ¥4.814 billion) from SBI Digital Asset Holdings and SC Ventures, the venture investment and incubation arm of Standard Chartered Bank, Zodia’s parent company. Raised funds.

Zodia Custody, which provides crypto asset custody services for institutional investors, will use the funds to increase the token coverage rate and launch the payment product “Interchange” that protects customer assets traded on crypto asset exchanges. The enhancement was announced in an email.

This funding round demonstrates the custodian’s continued willingness to provide crypto custody services that meet the demands of financial institutions. For example, Copper earlier this month partnered with exchange OKX to protect institutional investors’ assets while allowing them to delegate trading on OKX’s platform.

“The future direction of the crypto ecosystem is clear,” said CEO Julian Sawyer. “Compliance is essential to the future evolution of our sector as investors demand greater assurance and rigor.”

The London-based company is majority-owned by Standard Chartered Bank and minority-owned by US asset manager Northern Trust.

Zodia Custody established a crypto asset custodian in Japan in February as a joint venture with SBI Digital Asset Holdings.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Crypto Storage Provider Zodia Custody Raises $36M From SBI Holdings, Standard Chartered