Standard Chartered Crypto Platform Zodia Launches in Hong Kong

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  • Zodia expansion into Hong Kong was driven by growing interest in cryptocurrencies and its partnership with financial giants.
  • Zodia’s cautious approach in Hong Kong initially worked with a limited number of cryptocurrencies.
  • More expansion in Asia, offering services in Japan, Singapore, and Australia, and its readiness to keep 38 types of cryptocurrencies secure.

Zodia Expansion into Hong Kong

Zodia, a top cryptocurrency storage service for big organizations, is now starting to help people in Hong Kong. It’s working with important financial companies like Standard Chartered, Japanese SBI Holdings, and Northern Trust.

They want to be ready for the growing interest in cryptocurrencies in Hong Kong. Zodia’s journey has been quite impressive. It started in 2021 when Standard Chartered announced it as a platform to keep cryptocurrencies safe for big organizations.

Since then, it has grown a lot, especially after a successful funding round in April 2023 that raised $36 million. This round was led by SBI Holdings, showing that people believe in Zodia’s potential.

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Julian Sawyer, the CEO of Zodia, says that more big investors in Hong Kong are looking into cryptocurrencies. Zodia is good at keeping these digital coins safe, so it’s a good fit for these big players.

Hong Kong’s rules and support for digital money are also a big reason why Zodia is coming here. The government in Hong Kong sees the potential of digital coins and wants to be a leader in this area. This matches Zodia’s plans, making it easier for them to grow and work with others in Hong Kong.

Lately, Zodia has been expanding a lot in Asia. Besides coming to Hong Kong, they also offer their services in Japan, Singapore, and Australia. This helps them establish a strong presence in this part of the world. The CEO said, “In all these places, customers want to use our services.”

Zodia

Zodia’s Cautious Approach in Hong Kong and Crypto Readiness

Zodia is taking a careful approach in Hong Kong. At first, they’ll only work with a small number of different cryptocurrencies. They’re doing this to ensure they fit well into the local market.

At the same time, Zodia is talking with the people in charge of the rules in Hong Kong, like the Securities and Futures Commission and the Monetary Authority. They’re working on getting official approval in the financial district. This would make their services even safer and more trusted.

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Zodia is well-prepared to handle different cryptocurrencies. Right now, they can keep 38 types of cryptocurrencies safe, including popular ones like Bitcoin (BTC) and Ethereum (ETH), as well as stablecoins like Tether (USDT) and USD Coin (USDC).

In short, Zodia coming to Hong Kong shows that big investors are really interested in cryptocurrencies. Hong Kong is friendly to cryptocurrencies, and Zodia’s plans fit well. They’re being careful and talking with the people who make the rules, and with the funding they’ve received, they’re set for a bright future in the world of keeping cryptocurrencies safe in Asia.