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SC Ventures, the innovation and ventures arm of Standard Chartered(the British multinational banking and financial services giant), has partnered with Northern Trust, to launch a crypto custody business.
Dubbed “Zodia Custody”,. Zodia is expected to begin operations in 2021, pending registration with the U.K. Financial Conduct Authority and other regulatory conditions.- Zodia will provide custody services for bitcoin (BTC) and Ethereum (ETH), and then support more cryptocurrencies in the future, including XRP and other top 1% of Crypto Assets.
“The introduction of digital custody backed by the know-how and experience of global banks is a breakthrough in the evolution and support of institutional cryptocurrency markets,” said Pete Cherecwich, president of corporate and institutional services at Northern Trust. “Zodia’s robust capabilities will make it possible for institutional asset owners, family offices and asset managers to invest in a range of cryptocurrencies as interest continues to grow in these emerging and innovative financial instruments.”
This news is a much bigger deal than most realise, this is a domino effect, just like when 1 Central Bank states they are working on a CBDC, all countries then make a move. SC Ventures and Northern Trust were not the first to make this move to custody crypto assets and will certainly not be the last- This will make institutions even more conformable than they are already starting to get with investing in crypto assets!
Exciting time ahead in the Crypto Assets Space!
For members– keep an eye out on the members area over the next few hours and days- I will be uploaded my own Dollar Cost Averaging Plan and making some updates to the website! Including a Fundamental report on a crypto asset- that has increased by over 4932%- just shy of 5000% over the past 3 years at current value- and in my opinion this is just the beginning for the true value of this Crypto Asset!
Any question about this, please send me a message via social media or via email info@crypto-clear.co.uk
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