Its entry into the Singapore market is part of its expansion strategy across the Asia Pacific region, to cater to increased demand from institutions to provide bank-grade custody of digital assets, and to respond to existing client demand for its services in the region.
Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered Bank, has launched in Singapore. This news follows the announcement of its US$36 million ($49.02 million) Series A funding round in April this year.
This makes Zodia Custody the first entity that is owned by, and partnered with, banks to provide digital asset custody services for financial institutions in Singapore, according to a release dated Sep 12.
