Standard Chartered’s crypto safeguard service bags $36m

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Crypto custody provider Zodia Custody has bagged US$36 million in a series A round led by Japan’s SBI Holdings, with participation from existing investor SC Ventures – the venture capital arm of global bank Standard Chartered.

Catering to institutional investors, Zodia Custody handles the administration and safeguarding of their digital assets. It currently offers these services for eight cryptocurrencies including Bitcoin, Ether, and USD Coin.

Funding details

• Funding amount: US$36,000,000
• Lead investors: SBI Holdings
• Other investors: SC Ventures
• Stage: Series A
• Source

Based in London, the firm was founded by Standard Chartered and supported by US-based financial services company Northern Trust.

Standard Chartered has recently been intensifying its involvement in the startup world. Last September, the firm collaborated with Indonesian ecommerce giant Bukalapak to release a digital banking app.

Through SC Ventures, the bank also invested in Hong Kong-based digital identity platform Chekk and India-headquarted marketplace Solv last year.

See also: How an SG regtech firm won over StanChart and HSBC with ‘ChatGPT for banks’

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