Zodia Custody, a subsidiary of Standard Chartered (STAN), is making significant strides in Singapore’s rapidly growing digital asset custody sector. The company is entering into a strategic partnership with the developer of the Polkadot blockchain, Parity Technologies, to extend institutional support to the Polkadot ecosystem by providing robust custody services for digital assets. Additionally, the partnership intends to introduce staking services for DOT, Polkadot’s native token, to enhance the network’s adoption among financial institutions.Zodia Custody is well-positioned to meet the demand for digital asset custodianship while also addressing the existing needs of the region. This expansion aligns with the Monetary Authority of Singapore’s (MAS) efforts to establish a well-defined digital asset ecosystem, including regulating digital currencies and protecting digital assets.Zodia Custody’s global growth strategy includes strategic partnerships with industry leaders and expansion into Japan through a joint venture. The company has also raised US$36 million in a Series A fundraising round, highlighting robust investor confidence in Zodia’s vision and capabilities.Zodia Custody is poised to play a pivotal role in shaping the future of institutional digital asset management, providing the necessary infrastructure, technology, and security to meet the evolving demands of financial institutions in Singapore and beyond.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇸🇬 🇯🇵 🇱🇺 |
| Sentiment | positive |
| Relevance Score | 9 |
| People | Julian Sawyer, SBI Digital Asset Holdings |
| Companies | Monetary Authority of Singapore (MAS), Hidden Road, Blockdaemon, Standard Chartered (STAN), BlockFills, Parity Technologies, SBI Digital Asset Holdings, Virtual Asset Service Provider (VASP)., LMAX Digital |
| Currencies | Ethereum, Bitcoin, Polkadot |
| Securities | None |
