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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 traders.
Based on Zodia Custody chief government 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 presently serves 15 jurisdictions and has workplaces in London, Dublin, Luxembourg, Sydney, Singapore, Hong Kong and Tokyo. The digital asset custodian supports over 50 crypto belongings 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 companies agency Northern Belief Corp. Final 12 months, Zodia Custody raised $36 million in a spherical by Japanese monetary companies large SBI Group. Zodia Custody is now reportedly taken with attracting a extra numerous set of traders exterior of enormous monetary corporations.
In December of 2023, the Ripple Labs-owned digital belongings infrastructure supplier Metaco announced integration with Zodia Custody.
“The mixing allows establishments to entry Zodia Custody’s bank-grade custody options via Metaco. The expanded collaboration between the 2 firms follows a longstanding strategic relationship and is designed to additional construct out networked choices for institutional traders, enabling them to achieve extra safe, dependable and compliant end-to-end digital asset service capabilities.”
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