- The company plans to expand beyond Asia and Europe
- Funding is also used to expand services
A division of Standard Chartered – Zodia Custody Ltd, which provides services for the storage of cryptocurrencies, attractedeklo $36 million investment in Series A funding round. Investors: SBI Digital Asset Holdings, SC Ventures.
The new capital is planned to be used to expand the ecosystem beyond Asia and Europe. The company is interested in presence in the Middle East. However, this option is not yet considered in the United States due to the uncertainty in the regulatory framework.
In addition, Zodia Custody will also use the funding to increase its token reach and improve its Interchange settlement product, which protects the assets of clients traded on exchanges.
Julian Sawyer, CEO of Zodia Custody, said:
“There is a problem in the industry as to which regulator governs cryptocurrencies and which assets are categorized as securities. We hope that the US will create this clarity, but it is difficult to know what it will be in the coming year.”
He also spoke about the future of cryptocurrencies:
“The future direction of the digital asset ecosystem is clear. As investors demand greater certainty and rigor, compliance is critical to the future evolution of our sector.”