Zodia Custody, a crypto custody platform co-owned by Standard Chartered, SBI Holdings, and Northern Trust, has expanded its services to Hong Kong. This move comes in response to the increasing demand for crypto custody solutions from institutions in Hong Kong. Zodia CEO Julian Sawyer attributes the expansion to Hong Kong’s crypto-friendly stance and the government’s proactive attitude towards digital assets. Zodia has been expanding across Asia, with recent launches in Japan, Singapore, and Australia. The company plans to introduce its services in phases in Hong Kong, initially supporting a select group of cryptocurrencies. Zodia is in discussions with regulatory bodies in the region for crypto compliance. The platform currently supports 38 cryptocurrencies, including Bitcoin, Ether, Tether, and USD Coin. The expansion of Zodia’s services aligns with the growing buzz around a potential approval of a Spot Bitcoin ETF in the US, which is expected to boost the Bitcoin market size significantly. ETFs increase the need for custodial solutions, and Zodia is well-positioned to handle the digital assets associated with ETF funds.

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Information	Details
Geography	Asia
Countries	🇭🇰 🇯🇵 🇸🇬 🇦🇺
Sentiment	positive
Relevance Score	1
People	Julian Sawyer
Companies	Zodia Custody, Northern Trust, Standard Chartered, SBI Holdings, Hong Kong Securities and Futures Commission
Currencies	Bitcoin, US Dollar, Tether, Lido Staked Ether
Securities	None