Standard Chartered’s Crypto Arm Launches Staking Service for Passive Earnings
Standard Chartered’s cryptocurrency subsidiary, Zodia Custody, has introduced a new service that allows crypto investors to generate passive income from their digital assets. In collaboration with Singapore-based blockchain technology provider OpenEden, Zodia Custody Yield program offers staking services to institutional clients. The partnership aims to cater to the demand for low-risk, liquid, and transparent digital asset products.
Addressing the Demand for Yield Opportunities
Zodia’s collaboration with OpenEden enables institutions to access potential real-world yield from US Treasury bills through the platform. The program specifically targets stablecoin holders, who have billions of dollars sitting idle without generating any returns. By offering tokenized financial products, Zodia Custody and OpenEden strive to provide a safe and transparent way for issuers and investors to enter the digital asset market.
Zodia Custody’s Milestone in Singapore
Zodia recently became the first bank-owned entity in Singapore to offer digital asset custody services for financial institutions. This announcement follows the launch of their new product and partnership with OpenEden.
Hot Take: Enhancing Yield Generation in Crypto Investments
Standard Chartered’s Zodia Custody is expanding its services by partnering with OpenEden to bring staking opportunities to institutional clients. By allowing investors to generate passive earnings from their digital assets, this collaboration addresses the demand for low-risk and transparent investment options. With billions of dollars worth of stablecoins currently unutilized, Zodia Custody and OpenEden aim to tap into this market by offering tokenized financial products that provide safe and regulated access to the digital asset market.
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