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.
In accordance with Zodia Custody chief government Julian Sawyer, the capital elevate will assist fund the enlargement of the enterprise into new nations and territories whereas widening the product vary.
Zodia Custody at the moment serves 15 jurisdictions and has workplaces in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian supports over 50 crypto belongings and this consists of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), BNB, Polkadot (DOT), Tether (USDT) and USD Coin (USDC).
Apart from 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 large SBI Group. Zodia Custody is now reportedly fascinated about attracting a extra various set of buyers exterior of huge monetary corporations.
In December of 2023, the Ripple Labs-owned digital belongings infrastructure supplier Metaco announced integration with Zodia Custody.
“The combination allows establishments to entry Zodia Custody’s bank-grade custody options by means 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 buyers, enabling them to realize extra safe, dependable and compliant end-to-end digital asset service capabilities.”
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