A crypto custody enterprise that’s majority-owned by the world’s Forty fourth-largest financial institution is reportedly planning to boost extra capital.
Bloomberg reports that Zodia Custody Ltd, a subsidiary of Commonplace Chartered, is in talks to safe roughly $50 million in funding from buyers.
In keeping with Zodia Custody chief govt Julian Sawyer, the capital increase will assist fund the enlargement of the enterprise into new international locations and territories whereas widening the product vary.
Zodia Custody at present serves 15 jurisdictions and has workplaces in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian supports over 50 crypto property and this consists of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), BNB, Polkadot (DOT), Tether (USDT) and USD Coin (USDC).
Apart from the bulk proprietor Commonplace Chartered, Zodia’s different backers embrace the Nationwide Australia Financial institution and monetary providers agency Northern Belief Corp. Final yr, Zodia Custody raised $36 million in a spherical by Japanese monetary providers large SBI Group. Zodia Custody is now reportedly excited by attracting a extra numerous set of buyers outdoors of huge monetary companies.
In December of 2023, the Ripple Labs-owned digital property infrastructure supplier Metaco announced integration with Zodia Custody.
“The combination permits establishments to entry Zodia Custody’s bank-grade custody options by way of Metaco. The expanded collaboration between the 2 corporations follows a longstanding strategic relationship and is designed to additional construct out networked choices for institutional buyers, enabling them to achieve further safe, dependable and compliant end-to-end digital asset service capabilities.”
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