Standard Chartered’s Zodia Custody Secures $36 Million in Series A Funding Roundby Fintech News Singapore May 2, 2023
Zodia Custody, the cryptocurrency custody service launched by Standard Chartered, has raised US$36 million in a Series A funding round. The round received participation from Chicago-based financial services company Northern Trust Corporation and Japanese financial services firm SBI Holdings, along with SC Ventures, the venture arm of Standard Chartered.
The cryptocurrency custody service was launched in late 2020 to provide custody services for digital assets, addressing the growing need for secure cryptocurrency storage solutions. The new funding comes three months after Zodia Custody partnered with SBI Holdings’ digital asset arm to introduce crypto asset custody services to institutional investors in Japan.
“We believe this investment is a vote of confidence in our team, technology, and vision for the future of digital assets,” said Zodia Custody in a LinkedIn post. “We remain committed to delivering best-in-class solutions to our clients and driving innovation in the industry, free from compromise.”
The new funds will enable the cryptocurrency custody service to expand its business and develop its technology, providing secure, institutional-grade custody services for digital assets.