Zodia Markets, sponsored by Standard Chartered Ventures, has gained preliminary approval to operate as an over-the-counter crypto broker-dealer in Abu Dhabi. This is part of a custom-tailored approval process initiated by Abu Dhabi Global Market (ADGM), which aims to attract and regulate crypto-based businesses.
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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.”
The Ongoing Evolution: Blockchain’s Intriguing Trajectory and Information Overwhelm Challenge
“Prominent firms SOMA Finance, MANTRA, and Tritaurian Capital are set to launch the first legally issued digital security for global and U.S retail investors via their SOMA token. Meanwhile, Bitget introduced “Snowball”, a tool for structuring investments, offering both principal protection and up to 24.5% APR. In other news, Microsoft has released four AI compilers aimed at optimizing AI models’ performance.”
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.