SBI Holdings, a Japanese banking corporation, SC Ventures, Standard Chartered’s venture arm, and other investors provided the new funding.
Digital asset custodian Zodia Custody raised $36m in Series A investment.
SBI Holdings and Standard Chartered’s venture arm SC Ventures led the financing.
Starling Bank co-founder Julian Sawyer leads Zodia, a Standard Chartered subsidiary backed by Northern Trust.
“The future direction of the digital asset ecosystem is clear. As investors demand greater assurance and rigour—compliance is crucial to the future evolution of our sector,” said Julian Sawyer, CEO of Zodia Custody.
The funds will enhance its “bank-grade digital asset infrastructure” and worldwide reach. It will expand its coin and token coverage and improve its off-exchange settlement product for exchange-traded assets.
“As a business with a significant and vested interest in the digital asset space, we know all too well the need to evolve the ecosystem as a whole,” said Yoshitaka Kitao, SBI Holdings’ Representative Director, Chairman, President and CEO.
“This further investment into Zodia Custody, alongside our previously announced plans to set up a joint venture, builds on our work to bring Zodia Custody’s services to the Japanese market. It reinforces our belief in the future of the ecosystem, alongside both the Zodia Custody product and the team powering it.”
