Standard Chartered Bank Partners With Northern Trust To Launch Crypto Custody Service In 2021

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Standard Chartered Bank is planning to launch a crypto custody service in 2021. The custody service will only be available to institutional investors. According to a published on the 9th of December, the innovation and ventures unit of Standard Chartered Bank has partnered with financial services company Northern Trust to launch the new crypto custody service, called Zodia Custody. 

Despite the increasing adoption of digital assets by institutional investors, the press release showed that institutional investors represent only 9% of crypto investments. However, the bank is confident that institutional investors will continue to increase over the coming years.

In addition, Zodia Custody is scheduled to debut in London in the coming year. The new crypto service is also subjected to regulatory documentations, customary closing conditions, and registration with the UK Financial Conduct Authority (FCA). 

The announcement revealed further:

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