British banking and financial services company Standard Chartered has announced plans to expand its cryptocurrency brokerage arm.
Recent reports indicate that Zodia Custody will start offering services in Ireland. In particular institutional investors. With this in mind, Standard Chartered becomes the latest institution to start operations in the Republic of Ireland. After companies like Bank of New York Mellon, which created its Digital Innovation Hub in Dublin. Fintech company Blockdaemon has also arrived in Galway.
Standard Chartered’s initiatives and innovation arm, SC Ventures, founded Zodia Custody in December 2020, in partnership with asset services provider Northern Trust. y established Zodia initially as a cryptocurrency custody service, and later as an investment platform, operating with various pilot clients since its inception. Zodia provides custody services in both bitcoin (BTC) and Ether (ETH), with plans to expand in that capacity.
Most recently, disclosed relationships that Zodia Custody had registered with the UK Financial Conduct Authority (FCA). On July 29, SC Ventures and Northern Trust confirmed that their custodial arm is now overseen by UK regulations on money laundering, terrorist financing and funds transfer.
In doing so, it became one of only nine digital asset companies to receive such a registration. As a result, Zodia has become capable of providing business services to clients.
Pete Cherecwich, President of Corporate and Institutional Services for Northern Trust, commented:
Read also Cryptocurrencies will be used as an investment tool
“ FCA registration, coupled with successful operational trials with pilot customers, marks an important milestone.
“We are delighted that Zodia’s strong capabilities are now supporting the growing number of institutional asset owners, family offices and wealth managers around the world who invest in this emerging asset class.”
Hiring PayPal for Cryptocurrency Roles in Ireland
Zodia isn’t the only company turning its attention to the Irish crypto community. Earlier this month, payment provider Paypal announced that they were hiring in various roles related to cryptocurrencies.
Some of these roles are reportedly related to anti-money laundering and compliance efforts. In addition, the work will be based on PayPal’s blockchain, crypto and digital currencies business unit. se followed other roles that PayPal has advertised at its Dublin and Dundalk offices since early August. works included blockchain analysis and financial crime investigations.
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