Standard Chartered’s crypto custody firm, Zodia, is expanding its services into Hong Kong. The CEO of Zodia, Julian Sawyer, stated that Hong Kong is a market where institutional demand for crypto is stronger than retail demand, making it an ideal market for their company. The Hong Kong government and regulators are supportive of digital assets and want Hong Kong to become a hub for cryptocurrencies. Zodia is commencing its service rollout in Hong Kong in phases, starting with a limited set of crypto assets for clients. The company is also in talks with regulatory authorities to ensure compliance with local regulations. Zodia has recently expanded its services to Japan, Singapore, and Australia, and is seeing interest from clients in these markets as well as beyond.
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