amid rising demand for cryptocurrency custody services

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Zodia Custody (HK) has recently obtained the Trust or Company Service Provider (TCSP) license, allowing them to officially offer regulated crypto custody services in Hong Kong. This milestone marks a significant step for the company, which is backed by Standard Chartered.

The digital assets custody platform will primarily cater to institutional clients, leveraging its bank-backed heritage to provide a secure and compliant infrastructure. This move comes as Hong Kong aims to establish itself as a leading hub for digital assets, with initiatives such as proper licensing and the pursuit of spot Ethereum exchange-traded funds.

To spearhead its goals in the region, Zodia Custody (HK) has appointed Kal Chan as CEO. Chan recognizes Hong Kong’s potential in the crypto space and is determined to lead the way towards mainstream adoption. He believes that the company’s regulatory compliance and institutional focus will be key to its success.

Zodia Custody (HK) has also integrated with Metaco, a crypto storage provider owned by Ripple. This integration enables global sub-custody, similar to traditional banking practices. With the TCSP license, the company will offer its services to both local and international institutional clients, providing a regulated and secure platform.

In summary, the Trust or Company Service Provider license is a significant achievement for Zodia Custody (HK), allowing them to solidify their position in the crypto space and expand their services to the Hong Kong market.

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