Banks bullish on crypto: Standard Chartered’s Zodia raises $36M

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Banks bullish on crypto: Standard Chartered’s Zodia raises $36M
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Ripple’s partner SBI Holdings leads $36 million raise for Standard Chartered’s crypto custody firm Zodia.

Global banks continue to expand their cryptocurrency-related capabilities, with the British multinational bank Standard Chartered raising new funding for its crypto platform Zodia.

Prior to the funding round, London-headquartered Zodia was backed exclusively by Standard Chartered and Northern Trust, with Standard Chartered owning a 90% stake in the firm. It still remains the majority shareholder following the fundraise, according to Sawyer. “It is part of our strategy to be bank-backed, and all the good things that that brings,” he said. “That doesn’t mean there has to be a single bank.”

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