“Zodia Custody, a Standard Chartered spin-off, has partnered with Parity Technologies, the developer of the Polkadot blockchain. The collaboration aims to strengthen the Polkadot ecosystem with institutional backing, extending the integration of financial institutions into the blockchain network through securing digital assets.”
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Navigating the Digital Wave: Zodia Custody – The Future of Crypto Asset Custody in Singapore
“Zodia Custody, an arm of Standard Chartered, is providing digital asset custody services to financial institutions in Singapore in response to the burgeoning demand for secure crypto solutions. This expansion, spearheading fintech investments, signals crypto’s deepening roots in the financial world.”
Straddling Digital and Traditional Finance: Zodia Custody’s Expansion and the Regulatory Dance
“Zodia Custody, a subsidiary of Standard Chartered, now offers digital asset custody services in Singapore, anticipating growing investment as regulations evolve. This move, along with its current registrations in U.K., Ireland, Luxembourg, and a pending application in Japan, signifies its global ambitions in the cryptocurrency sphere. Balancing regulatory respect, innovation, and stakeholder interests is crucial.”
Zodia Custody Joins Tech Zero Taskforce: A Leap Towards a Greener Crypto Industry
Zodia Custody, a London-based crypto storage platform, has joined Tech Zero, a task force aiming for net-zero carbon emissions by 2030. As a member, Zodia will report its emissions annually and implement a carbon offsetting strategy, promoting a climate-conscious digital asset industry.
European Crypto Collaboration: Enhancing Institutional Trading, Custody and Challenges
A strategic collaboration between LMAX Digital, Zodia Custody, and CoinShares aims to enhance institutional-grade trading and custody offerings for digital assets. The partnership will leverage LMAX’s trading capabilities and Zodia’s Interchange product to provide institutions with trading infrastructure, security, and governance in the digital asset industry.
Growing Institutional Crypto Staking: Pros, Cons, and Future Implications
Zodia Custody partners with Blockdaemon to offer crypto staking services to institutional clients, following Ethereum’s transition to a proof-of-stake system. While providing opportunities for staking rewards, concerns arise regarding potential centralization and the environmental impact of widespread staking on energy consumption and carbon emissions.
First Uncleared Crypto Options Trade: Groundbreaking Risk Management Techniques
Singapore-based QCP Capital and Japan-based SBI Alpha Trading executed the first-ever crypto options trade without a clearing house, using bitcoin as collateral on the UK-based Clear Market. The groundbreaking transaction utilized multi-custodian collateral network and innovative risk management techniques to mitigate counterparty risks, aligning with the International Swaps and Derivatives Association’s requirements for uncleared derivatives.
Crypto Tax Compliance Pressure and North Korea’s Alleged Laundering: A Troubling Connection
The crypto industry faces increasing pressure for tax compliance as US Congress members urge Treasury and IRS to implement regulations. Meanwhile, funds from the $35 million Atomic Wallet hack are traced to Sinbad.io, allegedly involved in laundering over $100 million in cryptoassets.