Zodia Custody Launches Digital Asset Custodian Services in Hong Kong
Zodia Custody, a digital asset custodian backed by Standard Chartered, is expanding its services into the Hong Kong market. This move comes after the company’s recent expansion into other jurisdictions in the Asia Pacific region. Julian Sawyer, the CEO of Zodia, highlighted Hong Kong’s high demand from institutions as a key factor in targeting this market.
Continued Expansion in the Asia Pacific Region
In addition to its launch in Hong Kong, Zodia recently expanded its institutional services to Australia. The company’s platform serves as a portal for connecting institutions to digital asset exchanges and offers secure storage of assets in bank-grade cold wallets. Zodia also announced the provision of institutional-grade digital asset services in Singapore to tap into the country’s growing digital asset market.
Regulatory Framework and Investor Protection Measures
Zodia Custody is registered with the UK’s Financial Conduct Authority and has gained support from Standard Chartered, SBI Holdings, and Northern Trust. In June, Hong Kong introduced its crypto retail trading licensing scheme to position itself as a major crypto hub in Asia. Recently, the Securities and Futures Commission of Hong Kong updated its regulatory framework with additional investor protection measures.
Hot Take: Zodia Custody Expands Presence in Asia Pacific
Zodia Custody’s expansion into Hong Kong signifies its commitment to catering to institutional demand for digital asset custody services. With its presence in multiple jurisdictions across the Asia Pacific region, including Australia and Singapore, Zodia aims to tap into the growing market for institutional-grade digital asset solutions. By leveraging its partnerships with established financial institutions such as Standard Chartered, Zodia is well-positioned to provide secure storage and exchange connectivity for institutions looking to navigate the evolving landscape of digital assets.
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