financemagnates.com
Zodia Custody, a cryptocurrency custody service launched by British banking giant Standard Chartered in late 2020, has raised US$36 million from a Series A funding round. The round received participations from Chicago-based financial services company, Northern Trust Corporation, and Japanese financial services firm, SBI Holdings. In addition, SC Ventures, the venture arm of Standard Chartered, participated in the exercise.
According to CoinDesk, the firm will use the new capital injection to expand its token coverage and upgrade Interchange, its settlement product designed to protect digital assets traded on crypto exchanges.
“We believe this investment is a vote of confidence in our team, technology, and vision for the future of digital assets,” Zodia Custody said in a LinkedIn post. “We remain committed to delivering best-in-class solutions to our clients and driving innovation in the industry, free from compromise.”
The new funding comes over three months after Zodia Custody tapped SBI Holding’s digital asset arm to introduce crypto asset custody services to institutional investors in Japan.