Crypto startup Zodia Custody raises $36M in Series A

Zodia Custodya London-based company specializing in crypto guard and held by Standard Charteredhas just completed a round of financing led by SBI Holdings.

Launched in 2020, the crypto subsidiary of the bank Standard Chartered offers conservation solutions for the digital assetsincluding for crypto-currencies like Bitcoin, for institutional use.

This Thursday, Zodia Custody has announced that it has raised 36 million dollars as part of a series A conducted by the Japanese financial services group SBI Holdings.

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Following the operation, which also counts the participation of SC Ventures, the British financial institution remains the majority shareholder of Zodia Custody, confirmed to Bloomberg Julian Sawyer, the former Bitstamp boss who has been running the company since the beginning of the year.

The funding round comes as Zodia Custody began entering the Japanese market in 2023 in partnership with SBI Holdings.

“It’s part of our strategy to be backed by a bank, and all the good things that brings. It doesn’t mean that there has to be one bank Sawyer commented.

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The newly raised capital will allow Zodia to accelerate its expansion in the United States.internationalespecially in the Middle East. They will also be used to improve its custody platform by taking on new assets.

Recently, Standard Chartered, through its crypto director, ventured to suggest that Bitcoin could climb to $100,000 by the end of 2024.

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