Standard Chartered's Zodia Custody Raises $36M to Expand in Middle East
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April 27, 2023

Cryptocurrency custodial unit of British bank Standard Chartered called Zodia Custody raised $36 million in a new funding led by SBI Holdings.

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According to a report from Bloomberg, Standard Chartered is still the majority owner. However, as a result of the funding, SBI became Zodia's second-largest shareholder. Zodia Custody head, Julian Sawyer, said the proceeds would help the company expand services in the Middle East. He also noted the US is not in the plan for the foreseeable future due to "uncertainty in its regulatory roadmap."

Standard Chartered's Crypto Custodian Zodia Secures License in Luxembourg

Besides geographical expansion, Zodia will also add more tokens in addition to existing bitcoin (EXANTE: Bitcoin), ether (ETH), and others.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

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