1 year ago
Zodia Custody, a cryptocurrency retention supplier and a subsidiary of Standard Chartered (STAN), has launched successful Singapore, to supply integer plus custody services for fiscal institutions, the steadfast announced connected Tuesday.
It has acceptable up a institution called Zodia Custody (Singapore) Pvt. Limited and appointed erstwhile Bitgo managing manager Kai Kano arsenic its archetypal CEO.
Custody successful Singapore is not a licenced enactment yet and truthful Zodia Custody does not request a licence but it wants to beryllium successful rod presumption for erstwhile the clip comes.
"We privation to beryllium wherever determination is simply a planetary fiscal centre arsenic soon arsenic we person a regulatory roadmap that enables america to walk our dollars and put successful a marketplace and that provides the assurance to our clients that we tin run there," said Zodia Custody CEO Julian Sawyer successful an interrogation to CoinDesk.
The improvement marks a uncommon matrimony of a accepted fiscal instauration and a integer plus steadfast successful Singapore. Zodia Custody is already registered successful the U.K., Ireland, Luxembourg and has an exertion pending successful Japan.
Earlier this month, Zodia Markets, a abstracted entity which is simply a integer plus marketplace, besides backed by Standard Chartered Ventures, was granted support successful principle to run arsenic an over-the-counter (OTC) crypto broker-dealer successful Abu Dhabi.
Standard Chartered has been moving successful collaboration with the Monetary Authority of Singapore (MAS) and different fiscal institutions connected an inaugural called Project Guardian to trial plus tokenization. Standard Chartered is besides processing an archetypal token offering level to contented asset-backed information tokens listed connected the Singapore Exchange.
Edited by Parikshit Mishra.
English (US) 