Zodia Custody Expands its Crypto Services to Hong Kong in Response to Rising Institutional Demand

Zodia Custody, backed by Standard Chartered, expands crypto services to Hong Kong, targeting institutional clients in the Asia-Pacific region.
Zodia Custody Expands its Crypto Services to Hong Kong in Response to Rising Institutional Demand

Zodia Custody, a crypto security company owned by Standard Chartered, is expanding its services to Hong Kong.

This move is part of the UK-based company’s continued efforts to create a bigger footprint in the Asia-Pacific region. Zodia Custody, which was founded in 2020, supports financial institutions in safely safeguarding their bitcoin holdings. Zodia’s presence in Hong Kong is gradually growing. Its first goal is to provide services to clients in Hong Kong, but with a focus on a narrow, limited range of cryptocurrencies.

According to Julian Sawyer, CEO of Zodia, institutional interest, rather than individual retail investors, drives Hong Kong’s cryptocurrency sector. This emphasis on institutional clients complements Zodia’s intended customer base, making it an appropriate market for the company to join.

Sawyer said, “Hong Kong government and the regulators see digital assets as the future and also want Hong Kong to be a hub.

Zodia’s presence in Asia is rapidly expanding. In recent months, Zodia has expanded its services to Japan, Singapore, and Australia. Notably, Standard Chartered, Northern Trust, and Japan’s SBI Holdings all have a stake in Zodia.

Zodia is actively negotiating regulatory approval in Hong Kong’s financial sector with both the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). As Sawyer indicated, Hong Kong is the penultimate stop on Zodia’s voyage around the Asia-Pacific area.

What we’re seeing is there are absolutely clients in all of those four markets who want to do things,” he said.

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