{"id":24306,"date":"2023-10-30T07:11:42","date_gmt":"2023-10-30T07:11:42","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/standard-chartered-owned-crypto-platform-zodia-launches-in-hong-kong\/"},"modified":"2023-10-30T07:11:45","modified_gmt":"2023-10-30T07:11:45","slug":"standard-chartered-owned-crypto-platform-zodia-launches-in-hong-kong","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/standard-chartered-owned-crypto-platform-zodia-launches-in-hong-kong\/","title":{"rendered":"Standard Chartered-owned crypto platform Zodia launches in Hong Kong"},"content":{"rendered":"
<\/p>\n
Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong.<\/p>\n
Zodia Custody is launching services in Hong Kong in response to growing demand for crypto from institutions, Zodia CEO Julian Sawyer said, according to a CNBC report on Oct. 29.<\/p>\n
According to Sawyer, the crypto demand in Hong Kong is mainly driven by institutional investors rather than retail customers, ideally matching Zodia\u2019s crypto custody offering. He also mentioned that Hong Kong\u2019s stance on crypto aligns with Zodia\u2019s ambitions as the local government \u201csees digital assets as the future and also wants Hong Kong to be a hub.\u201d<\/p>\n
Zodia\u2019s launch in Hong Kong comes as the firm aggressively scales operations in Asia, opening services in Japan, Singapore and Australia in recent months.<\/p>\n
\u201cWhat we\u2019re seeing is there are absolutely clients in all of those four markets who want to do things,\u201d Zodia CEO said, adding:<\/p>\n
\u201cWe also see a lot of other clients and prospects outside those four jurisdictions that want to come in on the institutional side.\u201d<\/p><\/blockquote>\n
According to the report, Zodia will gradually roll out its services in Hong Kong, initially offering support for a limited number of cryptocurrency assets. The firm is reportedly in discussions with Hong Kong\u2019s Securities and Futures Commission and Hong Kong Monetary Authority about becoming regulated in the financial district, the report notes.<\/p>\n
Related: <\/em><\/strong>Hong Kong securities regulator updates crypto policies, citing market developments<\/em><\/strong><\/p>\n
Zodia did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n
As previously reported, Standard Chartered originally announced plans to launch an institutional custodial platform for cryptocurrencies like Bitcoin (BTC) in late 2020. Launched in 2021, Zodia raised $36 million in a Series A funding round led by SBI Holdings in April 2023. The platform supports 38 cryptocurrencies, including BTC, Ether (ETH) as well as stablecoins like Tether (USDT) and USDC (USDC).<\/p>\n
Magazine: <\/em><\/strong>Chinese police vs. Web3, blockchain centralization continues: Asia Express<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong. Zodia Custody is launching services in Hong Kong in response to growing demand for crypto from institutions, Zodia CEO Julian Sawyer said, according to a CNBC […]<\/p>\n","protected":false},"author":1,"featured_media":24307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-24306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n
Standard Chartered-owned crypto platform Zodia launches in Hong Kong | NFT & Crypto News<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\t\n\t\n\t\n