WEB3

Zodia Custody to Begin Offering Yield to Institutions, Backed by Standard Chartered and SBI Holdings

by BSCN

September 19, 2023

Backed by the likes of SBI Holdings and Standard Chartered, Zodia Custody, which raised some $36 million earlier in 2023, is reportedly partnering with OpenEden to bring staking and yield opportunities to institutional customers.

Zodia Custody, will begin offering yield-based opportunities to its institutional customer base. As Zodia opens its doors, institutions will be given the opportunity to capitalize on staking opportunities in the industry, as reported by The Block,

Zodia Custody, which raised some $36 million in funding in Q2 2023, is backed by the venture arm of financial giant, Standard Chartered, in addition to firms such as Northern Trust and SBI Holdings, the latter of which also made cryptocurrency headlines only recently.

According to reports, Zodia Custody has partnered with OpenEden in order to facilitate yield opportunities regarding assets held in secure custody by Zodia. OpenEden also broke headlines this year, with its goal of offering on-chain ERC-20 versions of US treasury bills.

Zodia’s latest announcement typifies one further step forward on the journey towards meaningful adoption of blockchain technology and digital assets by giants of the traditional financial sector, all across the globe.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].