Standard Chartered’s crypto custody arm to offer RWA products

Standard Chartered’s cryptocurrency custody unit, Zodia Custody, has agreed to collaborate with the OpenEden platform to offer products based on RWA.

Zodia Custody is delighted to announce our latest partnership with @OpenEden_Labs, a leading Singapore-based digital asset platform developer, to provide yield opportunities for institutions.

Read more here: https://t.co/fiAs2Ix0G1#ZodiaCustody #StableCoins #OpenEden pic.twitter.com/0wftWEaghY

— Zodia (@ZodiaCustody) September 19, 2023

Institutional clients of the custodian will be able to earn additional yield on their digital assets. The partnership also provides access to staking.

\”There is much in the world of TradFi that can be transformed into digital assets. The task is to do this safely and in compliance with regulatory requirements. Our first such partnership with OpenEden meets these criteria,\” — explained Julian Sawyer, CEO of Zodia Custody.

The company was launched as a platform for institutional investors at the end of 2020.

In 2021 the bank’s custody arm received a license from the UK’s Financial Conduct Authority.

In April 2023, Zodia Custodyraised $36 million.