Standard Chartered’s Zodia Custody is raising $50 million to expand its crypto custody services amidst increasing competition from both traditional finance and crypto-native firms. Institutional Investors Drive Demand for Crypto Custody Standard Chartered’s crypto custody business, Zodia Custody, is reportedly in talks to raise $50 million to fund its expansion into new markets. CEO Julian…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Banco BISA, a Bolivian banking giant, has boldly moved to keep pace with evolving global finance by entering the Web3 space. The top financial institution recently launched secure custody services for Tether (USDT), aiming to cater to local and international needs. This step marks Banco BISA’s entry into digital…
In an important development for the firm, Ripple Labs is set to offer crypto storage services to banks and other financial institutions. Indeed, the Ripple Custory platform is set to focus on security enhancement and compliance to offer their services to various banks in a major move. The expansion decision was called a “bid to…
Ripple has announced updates to Ripple Custody, enhancing its “bank-grade” custody technology. The latest features include a transaction screening service integration, additional hardware security module (HSM) options, and an XRPL integration for tokenizing Real World Assets (RWA). Ripple Custody now supports the tokenization of various assets, enabling businesses to manage cryptocurrencies, fiat currencies, and real-world…
The Financial Supervisory Commission (FSC) in Taiwan has stated that it will begin trials of virtual asset custody services. The trials seek to advance financial services in cryptocurrency, making it possible for banks to manage and store Bitcoin, Ethereum and other cryptocurrencies. This announcement opens a new page of the collaboration between traditional financial institutions…
In what is certainly a positive development for the country’s digital asset approach, Taiwan is set to launch Bitcoin custody trials through local banks in 2025. Indeed, the country’s Financial Supervisory Commission is planning the collection of applications for institutional interest. Moreover, these applications will seek to trial cryptocurrency custody services in Q1 of next…
KPMG’s recent report emphasizes the critical role of crypto custodians in safeguarding Bitcoin holdings, highlighting the need for strong security frameworks. As institutional adoption of Bitcoin increases, KPMG stressed that custodians should adopt proof-of-reserve practices and address key security challenges. KPMG, the global consulting giant, has recently stated that the crypto industry needs strong custodial…
The cryptocurrency space has recorded massive growth within the relatively short period of 15 years. Its market capitalization stands at a staggering $2.09 trillion, double what it was about a year ago. This astronomical growth has triggered interest from Wall Street firms and traditional institutions that want a piece of the action. Wall Street’s Interest…
Coinbase has unveiled Coinbase Wrapped Bitcoin (cbBTC), giving users a gateway to decentralized finance (defi) apps on Ethereum and Base, using bitcoin (BTC). The cbBTC token is essentially a wrapped version of bitcoin, fully backed by BTC held in Coinbase’s custody. Coinbase Wrapped Bitcoin Opens New Defi Opportunities According to the San Francisco-based crypto exchange,…
Standard Chartered has received approval from the Dubai Financial Services Authority to offer crypto custodial services for Bitcoin and Ethereum. Executive Bill Winters emphasized the bank’s confidence in the future of digital assets, viewing them as a transformative force in finance. In the latest development, the Dubai Financial Services Authority has given the green flag…