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Standard Chartered to Launch Crypto Custody Service for Institutional Investors Next Year
SC Ventures, the innovation and ventures unit of Standard Chartered, will launch a crypto custody service targeting institutional investors in London next year.
According to a Dec. 9 press statement, the British bank is partnering with U.S. wealth and asset management firm Northern Trust for the project. Together, they will launch a new business called Zodia Custody.
The deal is still subject to registration with the U.K. Financial Conduct Authority (FCA) and other regulatory approvals. At launch, Zodia will provide custody services for bitcoin (BTC), ether (ETH), ripple (XRP), litecoin (LTC), and bitcoin cash (BCH), said the statement.