Standard Chartered’s crypto custodian to launch products for institutional investors

The Zodia startup, backed by the leading British bank Standard Chartered in partnership with Northern Trust, plans to launch investment products for institutional clients. The Block reports this: The Block.

According to Zodia CEO Maxim De Gillebon, the company will launch collateral management products that will help large investors earn income from their cryptocurrency holdings.

Launching the service will require regulatory approvals. De Gillebon expressed hope that all permissions could be obtained within 2022.

“Given the rapid expansion and increasing complexity of the crypto sector, Zodia’s clients are seeking ways to earn from cryptocurrencies beyond the spot market,” he explained.

The head of Zodia noted that crypto investors have demand for access to liquidity, leverage, and income-generating products similar to traditional instruments such as derivatives, financing, as well as lending or borrowing.

Currently Zodia offers custodian storage services for Bitcoin and Ethereum. The company is also exploring the possibility of providing staking services and earnings in DeFi protocols, added De Gillebon.

obtained an FCA license in July 2021.

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