Zodia Custody, a crypto custodian backed by Standard Chartered, is expanding its services to Hong Kong. The foray into Hong Kong follows recent expansion in other areas in the Asia Pacific region, including Singapore, Japan, and Australia. Apart from Standard Chartered, the company is also part-owned by Northern Trust and SBI Holdings. According to Zodia CEO Julian Sawyer, institutional players drive crypto demand in Hong Kong rather than retail customers. The company is in talks with the SFC (Securities and Futures Commission) and Hong Kong Monetary Authority to become regulated in the financial district. Hong Kong has become increasingly friendly towards the cryptocurrency industry in the last few months and the SFC has launched a licensing regime for digital assets. Hong Kong, along with Dubai, is among the top locations for cryptocurrency and web3 firms. This expansion into Hong Kong is good news for the cryptocurrency industry as it is quickly gaining a reputation for becoming a crypto hub. #HongKong #CryptoCustodian #Cryptocurrency #Blockchain

You can read more about this topic here: Watcher Guru: Standard Chartered-Backed Crypto Custodian Opens in Hong Kong

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