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Zodia Customer Secures $36M Funding for Cryptocurrency Custodian Business Expansion

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According to reports, Zodia Customer, a subsidiary of Standard Chartered Bank and a cryptocurrency custodian, completed a $36 million A-round financing, with Japanese SBI leading t

Zodia Customer Secures $36M Funding for Cryptocurrency Custodian Business Expansion

According to reports, Zodia Customer, a subsidiary of Standard Chartered Bank and a cryptocurrency custodian, completed a $36 million A-round financing, with Japanese SBI leading the investment and becoming the second largest shareholder. The funds raised will be used for regional expansion outside the European and Asian markets, as well as to increase more digital assets, including collateralized ETHs.

Zodia Customer, a subsidiary of Standard Chartered Bank, completed a Series A financing of $36 million

The cryptocurrency industry has been gaining momentum rapidly over the past several years, with the increasing adoption of blockchain technology and the growing demand for a more secure, decentralized financial system. Fintech companies are starting to enter this market, catering to the needs of cryptocurrency investors and traders. One such player is Zodia Customer, a subsidiary of Standard Chartered Bank, which provides cryptocurrency custodial services and has recently secured $36 million in a round of funding.

What Is Zodia Customer And Its Cryptocurrency Custodial Services?

Zodia Customer is a London-based digital asset custody provider, regulated in the UK by the Financial Conduct Authority (FCA). It is designed to meet the needs of institutional investors and high net worth individuals seeking secure and compliant custody solutions for their cryptocurrency assets. The company offers a range of services, including cold storage, secure key management, multi-signature wallets, and transaction monitoring. Its systems provide a high level of security against hacking, insider theft, and human error.

The Significance of Zodia Customer’s A-Round Financing

According to reports, Zodia Customer secured $36 million in a recent round of financing, led by Japanese financial services company, SBI Holdings. SBI Holdings will become the second-largest shareholder in Zodia Customer, following fintech firm SC Ventures, a subsidiary of Standard Chartered Bank.
The funding will be used to support the regional expansion of Zodia Customer’s custodial services, particularly outside of European and Asian markets. It will also be used to increase the range of digital assets supported by Zodia, including collateralized Ether (ETH). This new investment firmly establishes Zodia Customer as a major player in the cryptocurrency custodial market, and demonstrates the confidence investors have in the company’s business model and future growth prospects.

Zodia Customer’s Unique Selling Points (USPs)

Zodia Customer’s offering is unique in several ways. Firstly, it has strong ties to Standard Chartered Bank, a renowned international bank with a long history of serving high net worth clients. This gives Zodia Customer a level of credibility and trust that other fintech firms may lack.
Secondly, its specialization in providing custodial services for high net worth investors and institutional clients means it places a strong emphasis on compliance and regulatory requirements. Its regulatory approvals from the FCA ensure the safety and security of clients’ assets.
Thirdly, Zodia Customer has built a platform that is designed specifically for digital assets, as opposed to traditional financial instruments. Its focus on providing secure storage and management of cryptocurrencies, rather than just facilitating transactions, sets it apart from other crypto exchanges.

Conclusion

Zodia Customer’s latest financing announcement is a testament to the growing importance and influence of the cryptocurrency market, and reflects the increasing demand for secure and trustworthy custody solutions. With its unique offering and strong investor support, Zodia Customer is well-positioned to lead the way in the cryptocurrency custodial services space.

FAQs

1. What is cryptocurrency custody, and why is it important?
Cryptocurrency custody refers to the safe storage, management, and security of digital assets like Bitcoin and Ethereum. As cryptocurrencies are decentralized and lack a central authority or governing body, it is crucial to have a secure and reliable way to hold and manage these assets. Custodial services provide a solution to this problem.
2. Who are Zodia Customer’s target clients?
Zodia Customer targets institutional investors and high net worth individuals who are seeking secure and compliant custodial solutions for their cryptocurrency assets.
3. What makes Zodia Customer’s offering unique?
Zodia Customer’s custodial services are unique in several ways, including its ties to Standard Chartered Bank, its focus on compliance and regulatory requirements, and its purpose-built platform for digital assets.

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