A crypto custody enterprise that’s majority-owned by the world’s Forty fourth-largest financial institution is reportedly planning to lift extra capital.
Bloomberg reports that Zodia Custody Ltd, a subsidiary of Normal Chartered, is in talks to safe roughly $50 million in funding from buyers.
Based on 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 at present serves 15 jurisdictions and has places of work in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian supports over 50 crypto property 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 embody 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 all in favour of attracting a extra various set of buyers outdoors of huge monetary companies.
In December of 2023, the Ripple Labs-owned digital property infrastructure supplier Metaco announced integration with Zodia Custody.
“The combination permits establishments to entry Zodia Custody’s bank-grade custody options by way of Metaco. The expanded collaboration between the 2 corporations follows a longstanding strategic relationship and is designed to additional construct out networked choices for institutional buyers, enabling them to achieve extra safe, dependable and compliant end-to-end digital asset service capabilities.”
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