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Reported Coindesk, Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered (STAN), has launched in Singapore, to provide digital asset custody services for financial institutions, the firm announced on Tuesday.
Custody in Singapore is not a licenced activity yet and therefore Zodia Custody does not need a licence but it wants to be in pole position for when the time comes.
Zodia Custody is already registered in the U.K., Ireland, Luxembourg and has an application pending in Japan.
Earlier this year, Standard Chartered's Crypto Custody Zodia raised $36 Million, led by SBI Holdings
Earlier this month, Zodia Markets, a separate entity which is a digital asset marketplace, also backed by Standard Chartered Ventures, was granted approval in principle to operate as an over-the-counter (OTC) crypto broker-dealer in Abu Dhabi.
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