Singapore, January 1, 2023 – Standard Chartered, a globally recognized banking and financial services company, has officially launched its subsidiary, Zodia Custody, in Singapore. This move aims to provide comprehensive digital asset custody services to institutional investors, family offices, and asset managers in the region.
Zodia Custody offers secure storage solutions for cryptocurrencies and other digital assets, leveraging Standard Chartered’s trusted banking infrastructure and expertise. The subsidiary is licensed and regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with regulatory frameworks.
The launch of Zodia Custody comes amidst the growing demand for reliable and regulated cryptocurrency services in Singapore. As the nation continues to embrace digital assets, Zodia Custody’s entry into the market is well-timed and poised to cater to the evolving needs of institutional investors.
“Zodia Custody combines the expertise of Standard Chartered as a leading international bank with the cutting-edge technology and security standards required for digital assets. We aim to be the leading digital asset custodian in Singapore, offering robust infrastructure and unparalleled client service,” said Alex Manson, CEO of Zodia Custody.
Zodia Custody’s services include safekeeping, transaction settlement, and the provision of asset information, all while adhering to robust cybersecurity measures. By combining digital asset expertise with Standard Chartered’s global network and experience, Zodia Custody aims to establish itself as a trusted partner for institutional investors seeking exposure to the crypto market.
With the launch of this subsidiary, Standard Chartered continues to demonstrate its commitment to innovation and digital transformation. By expanding its offerings to include cryptocurrency custody services, the bank stays ahead of changing market trends and positions itself as a leader in the digital asset space.
While Zodia Custody primarily targets institutional clients, its entry into the Singaporean market is a positive development for the overall cryptocurrency ecosystem. By providing regulated custody services, Zodia Custody contributes to the maturation and mainstream acceptance of digital assets, fostering confidence among investors and enabling broader adoption.
The launch of Standard Chartered’s subsidiary, Zodia Custody, in Singapore marks a significant milestone in the region’s digital asset landscape. As institutional interest in cryptocurrencies continues to rise, the robust and trusted services offered by Zodia Custody will undoubtedly play a crucial role in facilitating the secure storage and transactions of digital assets.