StanChart’s London-Based Crypto Custody Arm Raises $36 Million in New Funds

Standard Chartered’s spin-off crypto custodial unit Zodia Custody Ltd. closed $36 million in new funding as part of a round led by Japan’s SBI Holdings, the digital-asset firm said on Thursday, marking a dilution of the British bank’s ownership over its subsidiary.

London-headquartered Zodia was previously backed solely by Standard Chartered and Northern Trust, with Standard Chartered owning a 90% stake in the business. Zodia Custody Chief Executive Julian Sawyer declined to provide details on the exact makeup of its ownership after the round, but said Standard Chartered remains the majority owner.

The series A fundraise, which also saw the bank’s venture arm SC Ventures participate, followed the launch of Zodia’s business in Japan as a joint venture with SBI Holdings in February. 


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