|
|
|
Standard Chartered Bank's subsidiary, Zodia Custody, has announced its expansion into the Hong Kong market, intending to provide digital asset custody services for local institutions. Established in 2020, Zodia Custody is a company focused on custodial and storage services for cryptocurrencies, primarily owned by Standard Chartered Bank, with other shareholders including Japan's SBI Holdings and Northern Trust in the United States. Following its announcement last month about establishing a company in Singapore, Zodia Custody revealed to the media that it is now operating in Hong Kong. Julian Sawyer, the CEO, stated that the demand for cryptocurrencies in the Hong Kong market is primarily driven by institutions rather than retail customers, which aligns with Zodia Custody's ideal clientele. Julian Sawyer mentioned, "Hong Kong's regulators and regulators see digital assets as the future and want Hong Kong to become a (cryptocurrency) hub." Zodia Custody's expansion plan in Hong Kong will be phased, starting with limited cryptocurrency asset services for local clients. The company is currently discussing regulatory matters with the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority. Zodia Custody has been actively exploring opportunities in the vast Asian market recently. Over the past few months, the company has initiated services in Japan, Singapore, and Australia. According to Julian Sawyer, Hong Kong is the last stop in the company's expansion into the Asia-Pacific market. He added, "What we see is that there are definitely customers in all four markets looking to do business, and we see many potential institutional customers outside of these four regions eager to enter the cryptocurrency space." |
|
Post time 3-11-2023 21:09:34