Leading British Bank To Offer Cryptocurrency Service
coinputin.com – SC Ventures, Standard Chartered’s innovation and initiatives arm, has partnered with Northern Trust to launch a cryptocurrency storage platform.
The new platform, named Zodia Custody, will launch in London, according to an announcement late Tuesday. Zodia is expected to begin operations next year, once it is registered with the UK’s financial regulators and other regulatory conditions.
The news confirms previous reports that SC Ventures has developed a crypto storage solution for institutional investors. The involvement of the Northern Trust was unknown at the time.
Zodia will initially offer storage services for Bitcoin (BTC) and Ethereum (ETH). According to the announcement, leading cryptocurrencies will be supported in the future, including XRP, Litecoin (LTC) and Bitcoin Cash (BCH).
Pete Cherecwich, head of corporate and corporate services at Northern Trust, said::
“The introduction of the digital storage service, supported by the knowledge and experience of global banks, is a breakthrough in the evolution and support of corporate cryptocurrency markets.”
Interest in these evolving and innovative financial instruments continues to grow, enabling corporate asset owners, family offices and asset managers to invest in a range of cryptocurrencies.