Zodia Custody expands to Hong Kong

Zodia Custody has announced its expansion to Hong Kong, one of the leading financial hubs in Asia.

Zodia Custody is a regulated platform that provides secure storage and transfer of cryptocurrencies. The move comes as the demand for crypto-related services grows among institutional investors in the region.

The platform aims to bridge the gap between traditional finance and the emerging crypto space by offering institutional-grade solutions that comply with global standards and regulations.

Zodia Custody was one of the first crypto custody services to obtain a license from the U.K.’s Financial Conduct Authority (FCA) in 2022. The company also plans to expand its presence in other jurisdictions, such as Singapore, Switzerland, and the U.S., shortly.

You might also like: Standard Chartered-backed Zodia gains Irelands’s Nod for EU crypto services

Zodia Custody’s launch in Hong Kong comes amid a growing interest in crypto assets among institutional investors, such as banks, hedge funds, pension funds, and family offices.

According to a recent survey by Fidelity Digital Assets, 90% of institutional investors expect to have an allocation to digital assets by 2026. The survey also found that 52% of Asian investors already have exposure to crypto assets, compared to 33% in Europe and 27% in the U.S.

Zodia Custody’s expansion to Hong Kong is expected to boost the adoption and innovation of crypto assets in the region, as well as enhance the competitiveness and attractiveness of Hong Kong as a global financial center.

You might also like: Standard Chartered-backed Zodia goes green, joins UK’s Tech Zero
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Footwear conglomerate Puma launches 3D Web3 experience

The experience is designed for everyone, but Puma Pass holders gain access to exclusive perks. On June 13, German footwear conglomerate Puma launched its 3D metaverse experience , Black Station. As told by developers, Black Station is an “experiential home” for product drops built to provide “unbridled access” for Puma Pass nonfungible token (NFT) holders. The firm says that the experience is for everyone to explore, but only those possessing RB tokens airdropped to Puma Pass holders can purchase a digital "Rulebreaker” sneaker and claim two digital wearables. At the time of publication, RB tokens currently have a price tag of 0.0125 Ether (ETH). Developers wrote: “If you do not own an RB token there is still so much to explore. Unkai, our city in the clouds, and Unter, our exhilarating club below, both are filled with mysteries to explore and collect." Holders of the RB token can burn it from June 13-20 on Black Station, granting their parent wallet access to various pro...
Read more

Massive victory for Bitcoin bulls if this critical level holds

Image
Despite the current slowdown, Bitcoin (BTC) has recently crossed the $35,000 level for the second time in a week and remains in the upper $34,700’s, with nearly 80% of its holders presently in profit and the cryptocurrency sector waiting with bated breath to see what happens next. As it happens, over 78% of Bitcoin holders are making money at the flagship decentralized finance (DeFi) asset’s current price, as opposed to 17% in loss, according to the information shared by the blockchain and cryptocurrency analytics platform IntoTheBlock in an X post published on November 6. Bitcoin holders in profit at current price. Source: IntoTheBlock Furthermore, 1.94 million addresses have previously bought 778,859 BTC at a minimum price of $34,111.17 and a maximum price of $35,122.37, which makes the average of $34,650 a critical support level that the maiden crypto needs to hold for bulls to have “a massive victory ,” as the analysts observed. Bitcoin holders in/out of the money around p...
Read more

Binance and CZ file motion to dismiss CFTC’s lawsuit

Image
Binance, its CEO Changpeng Zhao (CZ), and the company’s former compliance chief Samuel Lim seek to dismiss the complaint filed by the US CFTC. On March 27, 2023, the Commodity Futures Trading Commission took legal action against Binance for violating the Commodity Exchange Act and offering futures trades without registering as a futures commission merchant (FCM). You might also like: US CFTC takes legal action against Binance, crypto markets fall Moreover, according to the motion , the defendants seek to file two separate motion s to dismiss CFTC’s lawsuit . Binance and CZ file a joint motion while Lim goes independent. The defendants requested the court to allow them to respond with a 50-page motion while currently limited to only 15 pages. Per the document, the defendants’ response against the CFTC needs to be submitted by July 27 to the US District Court for the Northern District of Illinois. Last month, the US Securities and Exchange Commission (SEC) sued Binan...
Read more