Standard Chartered to expand crypto services in Irelandwritten by Bella Palmer
The bank reportedly plans to target institutional investors for managing investments in crypto currencies
Standard Chartered's (StanChart) crypto currency-focused brokerage firm Zodia Custody wants to expand its services to institutional investors in Ireland, according to Irish Independent. The custodian was established late last year by the British bank’s Ventures arm.
The bank reportedly plans to target institutional investors for managing investments in crypto currencies such as bitcoin and ether (ETH). The custodian also planned to offer services for litecoin (LTC), bitcoin cash (BCH) and XRP. However, it remains unclear if XRP is still on the list after the SEC's lawsuit.
As Alex Manson, the Head of SC Ventures, earlier said, approximately 20 institutions have already expressed interest in the custodial solution.
SC Ventures aided the establishment of Zodia Custody in late 2020. The company was also backed by financial management organization Northern Trust. This subsidiary will benefit from their expertise as the two companies have prior experience in the bitcoin industry as well as Blockchain technology.
Zodia Custody is known for managing crypto investments for financial institutions. The overwhelmingly good feedback the firm received for its work prompted it to register with the UK’s Financial Conduct Authority (FCA).
Zodia Custody has stated that their crypto broker services would focus on Ether, Bitcoin, Litecoin, Ripple, and Bitcoin Cash, according to their statement. In addition to that, Standard Chartered has also decided to create a website for businesses interested in employing crypto currency.
SC Ventures has been operating as a crypto currency broker since June 2021. This brokerage firm partnered with BC Technology Group to boost the reputation of its crypto currency offerings. SC Ventures intends to make it possible for financial institutions to buy bitcoin and ether through its platform.
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