Cryptocurrency storage provider Zodia Custody has raised $36 million from Japanese financial-services firm SBI Holdings and SC Ventures, the venture arm of Zodia’s parent company, Standard Chartered, a multinational bank based in the U.K.
Crypto Storage Provider Zodia Custody Raises $36M
Zodia Custody, a cryptocurrency storage provider that offers digital-asset custody services to institutional clients, has secured $36 million in funding from SBI Holdings, a Japanese financial-services firm, and SC Ventures, the venture arm of Zodia’s parent company, Standard Chartered, a multinational bank headquartered in the UK.
The company plans to use the funding to increase its token coverage and enhance its settlement product, Interchange, which safeguards clients’ assets traded on exchanges.
The funding indicates the growing interest among institutional investors for custodians that offer crypto storage services.
Zodia Custody CEO Julian Sawyer believes that compliance is crucial for the future evolution of the digital-asset ecosystem, and the funding will help meet investors’ demand for greater assurance and rigor.
In February, Zodia Custody formed a joint venture with SBI Holdings to establish a crypto asset custodian in Japan. The London-based firm is mostly owned by Standard Chartered, while Northern Trust, a US bank, has a minority stake.
About Zodia Custody
Zodia Custody is a London-based cryptocurrency storage provider that offers digital-asset custody services to institutional clients.
The company was established in 2020 and is mostly owned by Standard Chartered, a multinational bank headquartered in the UK, while Northern Trust, a US bank, has a minority stake. Zodia Custody provides its clients with a secure and regulated environment to store their digital assets, such as cryptocurrencies, and also offers settlement and trading services.
The company aims to provide institutional investors with greater assurance and rigor in the digital-asset ecosystem, which is becoming increasingly important as cryptocurrencies gain wider acceptance and adoption.
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