March 10, 2023 at 14:39 GMTModified date: August 9, 2023 at 09:21 GMT
March 10, 2023 at 14:39 GMT

Standard Chartered to offer Bitcoin and crypto custody in EU through subsidiary

the Bitcoin and cryptocurrency custodian Zodia Custody ready to expand its activity to Europe after successful registration as virtual asset service provider in Luxembourg.

Zodia Custody Ltd., a Bitcoin and cryptocurrency custodian that Standard Chartered owns, has successfully obtained registration as a virtual asset service provider in Luxembourg, therefore extending its operations throughout Europe. 

John Cronin, CEO of Zodia Custody Ireland, revealed that the London-based business would be announcing the registration of its Irish subsidiary with the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg on Friday, March 10, according to an interview with Bloomberg News.

Cronin predicts that the relocation would help Zodia attract more customers in the fund management industry since Luxembourg is widely recognized as a premier center for the industry.

It will also let the company expand its operations throughout the European Union before the implementation of new crypto regulations that would facilitate the transfer of registers between member states.