Zodia Custody Expands to Singapore to Meet Growing Demand
Zodia Custody, a subsidiary of Standard Chartered, has announced its expansion to Singapore. The move comes as the company aims to tap into the rising demand for bank-grade custody of digital assets in the Asia-Pacific region. By establishing a presence in Singapore, Zodia Custody can better serve its existing clients in the region and respond effectively to their needs. Being a subsidiary of Standard Chartered provides Zodia Custody with several advantages, including access to the bank’s risk and compliance frameworks, information security, resilience, and expertise. The London-based firm works with a wide range of clients, including hedge funds, prime brokers, exchanges, and asset managers. It is registered with regulatory authorities in the UK, Ireland, and Luxembourg, and has an application pending in Japan.
Hot Take: Zodia Custody’s Strategic Move
Zodia Custody’s expansion to Singapore is a strategic move that positions the company to capitalize on the growing demand for digital asset custody in the Asia-Pacific region. By leveraging its affiliation with Standard Chartered, Zodia Custody gains credibility and trust among interested financial institutions. The company’s adoption of Standard Chartered’s risk and compliance frameworks, along with its expertise in information security and resilience, further enhances its offering. This expansion allows Zodia Custody to better serve its existing clients and tap into new opportunities in the region. With its established presence in major financial hubs and pending application in Japan, Zodia Custody is well-positioned to become a leading player in the digital asset custody space.
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