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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 lift 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.
In accordance with Zodia Custody chief government Julian Sawyer, the capital increase will assist fund the growth of the enterprise into new nations 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 belongings and this contains Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), BNB, Polkadot (DOT), Tether (USDT) and USD Coin (USDC).
In addition to the bulk proprietor Commonplace Chartered, Zodia’s different backers embody 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 big SBI Group. Zodia Custody is now reportedly taken with attracting a extra numerous set of traders exterior of enormous monetary companies.
In December of 2023, the Ripple Labs-owned digital belongings infrastructure supplier Metaco announced integration with Zodia Custody.
“The combination allows establishments to entry Zodia Custody’s bank-grade custody options by means of 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 realize further safe, dependable and compliant end-to-end digital asset service capabilities.”
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