Banking Giant Standard Chartered’s Crypto Custody Firm Zodia Launches in Hong Kong

British banking elephantine Standard Chartered-owned crypto custody steadfast Zodia is launching services successful Hong Kong. “The Hong Kong authorities and the regulators spot integer assets arsenic the aboriginal and besides privation Hong Kong to beryllium a hub,” the crypto firm’s CEO emphasized. Zodia has already expanded into 3 different Asian markets.

Standard Chartered’s Zodia Expanding Into Hong Kong

Zodia Custoday, a crypto custody steadfast owned by Standard Chartered, Northern Trust, and Japan’s SBI, is launching services successful Hong Kong, CNBC reported Sunday. The institution is based successful London and registered successful the U.K. with the Financial Conduct Authority (FCA), successful Ireland with the Central Bank of Ireland (CBI), and successful Luxembourg with the Commission de Surveillance du Secteur Financier (CSSF).

Julian Sawyer, the CEO of Zodia, explained that Hong Kong is simply a marketplace wherever organization request for crypto is stronger than retail demand, making it the perfect marketplace for her company. The enforcement added:

The Hong Kong authorities and the regulators spot integer assets arsenic the aboriginal and besides privation Hong Kong to beryllium a hub.

Zodia is commencing its work rollout successful Hong Kong successful phases. In the archetypal phase, its extremity is to connection services for a constricted acceptable of crypto assets to clients successful Hong Kong. Additionally, the institution is actively successful talks with some the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority to guarantee regulatory compliance.

The crypto custody steadfast has been actively expanding successful Asia and has precocious expanded its services to Japan, Singapore, and Australia. Sawyer shared:

What we’re seeing is determination are perfectly clients successful each of those 4 markets who privation to bash things … We besides spot a batch of different clients and prospects extracurricular those 4 jurisdictions that privation to travel successful connected the organization side.

What bash you deliberation astir Standard Chartered-owned Zodia launching crypto services successful Hong Kong? Let america cognize successful the comments conception below.