Zodia Customer, a Cryptocurrency Custodian, Completes $36 Million A-Round Financing

According to reports, Zodia Customer, a subsidiary of Standard Chartered Bank and a cryptocurrency custodian, completed a $36 million A-round financing, with Japanese SBI leading the investment and becoming the second largest shareholder. The funds raised will be used for regional expansion outside the European and Asian markets, as well as to increase more digital assets, including collateralized ETHs.

Zodia Customer, a subsidiary of Standard Chartered Bank, completed a Series A financing of $36 million

Zodia Customer, a subsidiary of Standard Chartered Bank, has successfully completed an A-round financing of $36 million. The investment was led by Japanese SBI and has made the latter the second largest shareholder of Zodia Customer. The funds raised from the financing round will be used for regional expansion outside of the European and Asian markets, and for including more digital assets, which includes collateralized ETHs.

Introduction

The world of cryptocurrency is rapidly evolving, and custodianship is becoming an essential aspect of digital asset management. Custodians like Zodia Customer are responsible for safeguarding clients’ cryptocurrency assets against theft, loss, or damage. They play a crucial role in the cryptocurrency ecosystem, especially with the increased adoption of digital assets by mainstream businesses and institutional investors.

Zodia Customer’s A-Round Financing

Reports indicate that Zodia Customer has completed an A-round financing of $36 million, with Japanese SBI leading the investment. This significant achievement has made the latter the second largest shareholder of the cryptocurrency custodian. Other investors are said to include the British multinational banking and financial services company, Standard Chartered, and the venture capital firm, Illuminate Financial Management.
The funds raised from the financing round will be used for expanding Zodia’s services into other regions outside of Asia and Europe, and for increasing its digital assets to include collateralized ETHs. This move is expected to strengthen the company’s position in the cryptocurrency market by providing diverse services to clients.

Zodia Customer’s Services

Zodia Customer’s major service is custodianship, where they store and safeguard clients’ cryptocurrency assets on their behalf. The firm’s custodianship solution offers institutional-grade security and high-level encryption for clients’ digital assets. They aim to provide customers with access to digital assets, which are secured by a team of world-class experts with top-notch technology. This makes Zodia’s services ideal for institutional investors, high net worth individuals, corporations, and family offices, who require a secure and regulated custodian for their digital assets.
Zodia Customer also offers settlement services to ensure that clients’ transactions are completed quickly and efficiently. As a digital asset custodian, they have a deep understanding of the blockchain ecosystem, which enables them to process transactions in real-time and with high levels of accuracy.

Zodia Customer’s Expansion Plan

The completion of the A-round financing will enable Zodia Customer to expand its services into other regions, such as the Americas. Furthermore, the firm plans to increase its digital assets by including collateralized ETHs, among others. This will expand the services and increase the options available to clients.
Zodia Customer’s expansion into the Americas is important because digital asset management is a global phenomenon. It is essential to have a global presence to cater to clients in different regions and time zones. Moreover, the inclusion of additional digital assets is necessary to enhance the clients’ investment portfolios, add diversity to digital assets, and increase returns.

Conclusion

The completion of a $36 million A-round financing displays the significant confidence that investors have in Zodia Customer’s services. The increased investment will enable the company to expand its services into other regions, including the Americas, and provide clients with more digital assets. As the adoption of digital assets grows, custodians will continue to play a vital role in ensuring the security and safekeeping of the clients’ digital assets.
# FAQs

What is Zodia Customer?

Zodia Customer is a cryptocurrency custodian that provides services to institutional investors, high net worth individuals, corporations, and family offices requiring secure and regulated custodianship for their digital assets.

What services does Zodia Customer offer?

Zodia Customer offers custodianship and settlement services to store and safeguard clients’ cryptocurrency assets on their behalf, and to ensure that transactions are completed quickly and efficiently.

What is the significance of the completion of the A-round financing for Zodia Customer?

The completion of the A-round financing is significant because it shows the confidence that investors have in Zodia Customer’s services, and will enable the company to expand into other regions outside of Asia and Europe, as well as for increase its digital assets, including collateralized ETHs.