The cryptocurrency custodian Zodia Custody, backed by Standard Chartered Bank and the financial-services provider Northern Trust, received license FCA.
The service will begin operations in 2021 after regulatory approval.
In the initial phase Zodia Custody will support Bitcoin and Ethereum. Later the platform will add XRP, Litecoin (LTC) and Bitcoin Cash (BCH).
The custodial solution is designed for asset managers, institutional owners and family offices.
Earlier in June, Standard Chartered entered into a partnership with the Asian company BC Group to launch a cryptocurrency exchange for institutional clients in Europe.
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