Commonplace Chartered’s Zodia Custody raises $36 million

Key takeaways

• Crypto storage supplier Zodia Custody has raised $36 million in a current funding spherical.

• The crypto-focused subsidiary of Commonplace Chartered will use the funds for worldwide enlargement.

• The funding spherical was led by SBI Holdings and SC Ventures

Zodia Custody raises $36 million

Zodia Custody, a crypto-focused subsidiary of Commonplace Chartered, has raised $36 million in a funding spherical. In accordance with the corporate, the funds could be used to pursue worldwide enlargement. 

The funding spherical was led by SC Ventures, the enterprise arm of Commonplace Chartered, and Japanese conglomerate SBI Holdings. Zodia Custody additionally revealed that there are different unnamed traders. The crypto custody supplier additionally didn’t disclose the valuation of the corporate following this funding spherical. 

Zodia Custdoy revealed that the funds could be used to spice up geographic enlargement and improve the corporate’s protection. The agency may even use the funds to enhance its interchange and off-exchange settlement companies because it seeks to guard consumer property which might be traded on crypto exchanges. 

Whereas commenting on this newest cryptocurrency information, Julian Sawyer, CEO of Zodia Custody, stated;

“The longer term path of the digital asset ecosystem is obvious. As traders demand higher assurance and rigor, compliance is essential to the longer term evolution of our sector.”

Commonplace Chartered is bullish on Bitcoin

Commonplace Chartered, the mum or dad firm of Zodia Custody, is bullish on Bitcoin. Earlier this week, analysts on the financial institution stated they imagine crypto winter is over and Bitcoin might rally in the direction of the $100k mark by subsequent 12 months.

At press time, the worth of Bitcoin stands at $29,066, up by greater than 50% year-to-date

Zodia Custody was initially launched by Commonplace Chartered and Northern Belief, the asset servicing agency, in 2021. The agency introduced a three way partnership with Japanese-based SBI Digital Asset Holdings earlier this 12 months to launch a custody enterprise in Japan.