Standard Chartered's Zodia Custody Launches Services in Hong Kong

Reported by CNBC, Zodia Custody, a subsidiary of Standard Chartered, is launching its services in Hong Kong. Zodia Custody helps financial institutions store their crypto securely.

Julian Sawyer, CEO of Zodia, said that Hong Kong was a market where demand for crypto is driven by institutions, rather than retail customers, adding this is the ideal clientele for Zodia.

Zodia has been expanding aggressively in Asia. Indeed, the company opened its services in Japan, Singapore and Australia in recent months. It is part-owned by Standard Chartered, as well as Northern Trust and Japan’s SBI Holdings.