Zodia Custody Expands to Hong Kong, Meeting Rising Demand for Crypto Services
Zodia Custody, a regulated platform specializing in secure storage and transfer of cryptocurrencies, has announced its expansion to Hong Kong, a prominent financial hub in Asia. This move comes as institutional investors in the region show increasing interest in crypto-related services. Zodia Custody aims to bridge the gap between traditional finance and the emerging crypto space by offering institutional-grade solutions that comply with global standards and regulations.
In 2022, Zodia Custody became one of the first crypto custody services to obtain a license from the U.K.’s Financial Conduct Authority (FCA). Additionally, the company plans to expand its presence in other jurisdictions, including Singapore, Switzerland, and the U.S.
Rising Interest in Crypto Assets among Institutional Investors
Zodia Custody’s launch in Hong Kong aligns with the growing interest in crypto assets among institutional investors such as banks, hedge funds, pension funds, and family offices. A recent survey by Fidelity Digital Assets revealed that 90% of institutional investors expect to allocate funds to digital assets by 2026. The survey also highlighted that 52% of Asian investors already have exposure to crypto assets, surpassing Europe (33%) and the U.S. (27%).
The expansion of Zodia Custody to Hong Kong is expected to drive adoption and innovation of crypto assets in the region while bolstering Hong Kong’s position as a global financial center.
Hot Take: Zodia Custody’s Entrance Enhances Hong Kong’s Crypto Landscape
With its expansion into Hong Kong, Zodia Custody is poised to meet the rising demand for crypto services among institutional investors in Asia. By offering secure storage and compliant solutions for cryptocurrencies, Zodia Custody aims to bridge the gap between traditional finance and the crypto space. As institutional interest in digital assets continues to grow, Zodia Custody’s presence in Hong Kong is expected to contribute to the adoption and competitiveness of crypto assets in the region. This move aligns with the broader trend of institutional investors diversifying their portfolios with digital assets, reinforcing the importance of crypto within the global financial landscape.
Source: Crypto News
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