Zodia Custody is planning to use some money to expand the number of digital tokens that it can manage and improve its product called Interchange, which helps to transfer those tokens securely.
Zodia Custody, a company that stores cryptocurrencies, has received $36 million from two investors: SBI Holdings, a financial services firm based in Japan, and SC Ventures, a branch of Zodia’s parent company, Standard Chartered.
Zodia Custody gives big businesses a place to keep their digital assets safe. With the $36 million they just received, they plan to expand the number of digital tokens they can manage and make their settlement product, Interchange, even better. Interchange is a way for their clients to securely exchange their assets on different platforms while keeping them safe.
The fact that investors gave Zodia Custody $36 million shows that there is still a high demand for companies that can safely store cryptocurrencies for big financial businesses. Another company, called Copper, recently teamed up with the exchange OKX to give institutional clients a way to keep their assets safe while they trade on OKX’s platform.
According to CEO Julian Sawyer, the future of the digital asset world is certain. People who invest in cryptocurrencies want to be sure that their investments are safe and legal, so it’s important for companies like Zodia Custody to follow the rules and regulations. This is necessary to make sure that the digital asset sector can continue to grow and develop.
Zodia Custody is based in London and mostly owned by Standard Chartered, a financial company. Another financial company, Northern Trust, also has a small ownership stake in Zodia Custody.
Zodia Custody created a partnership with SBI Holdings in February to create a new company in Japan that will store digital assets for people who buy and sell cryptocurrencies.