Zodia Custody Limited, a crypto-focused firm backed by Standard Chartered, is now registered with the UK Financial Conduct Authority as a regulated crypto-asset firm. Standard Chartered partnered with Northern Trust to launch Zodia.
Earlier this month, Zodia announced a new wholesale trading platform for crypto-assets. Labeled #TPICAP, the platform is said to be the first tier-one financial markets infrastructure provider of a fully segregated wholesale spot cryptoassets trading platform.
#TPICAP, said to be driven by institutional demand, will offer a digital marketplace for crypto trading as well as connectivity and post-trade infrastructure into a network of crypto assets custodians. Zodia states that it is working with custodians Fidelity Digital Assets and Zodia Custody, and with Flow Traders as initial liquidity providers.
Notably, Zodia is a leader in adhering to the FATFA travel rule requirements.
Zodia is designed to enable institutions to invest in the emerging crypto assets including transaction and settlement activities.
Zodia is said to combine traditional custody principles and expertise of a bank with the agility of a Fintech.
Initially, Zodia is expected to provide custody services for the most-traded digital assets like Bitcoin, Ethereum, followed by XRP, Litecoin, and Bitcoin Cash.