Standard Chartered-backed Zodia Custody to offer yield on crypto holdings

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By BitcoinWiki News

Key Takeaways:

– Zodia Custody, the crypto unit of Standard Chartered, will offer institutional clients yield on their crypto holdings for the first time.
– The firm has partnered with OpenEden to connect crypto assets held in custody with real-world yield opportunities.
– The product will also provide institutions exposure to staking services.
– Zodia Custody was unveiled in 2021 and recently entered the Singapore market due to increased demand for crypto custody services in the region.
– Zodia Custody’s sister company, Zodia Markets, plans to accelerate its expansion in the U.S. to meet rising institutional demand.
– OpenEden, set up by former executives from Gemini, aims to bring tokenized U.S. Treasury Bills on-chain.
– The concept of connecting idle crypto with real-world assets has gained traction recently.
– Helix, a startup incubated by Helicap, raised $2 million for its real-world assets protocol.
– There is potential for billions of dollars’ worth of stablecoins to generate yields for investors.
– Zodia Custody previously formed a custody business in Japan through a joint venture with SBI Digital Asset Holdings.
– In April, Zodia Custody raised $36 million from investors including SC Ventures and SBI Holdings.


Zodia Custody, the crypto unit of Standard Chartered, is partnering with OpenEden to offer institutional clients yield on their crypto holdings. The partnership will connect crypto assets held in custody with real-world yield opportunities and provide exposure to staking services. Zodia Custody aims to bring the benefits of traditional finance to the digital asset world in a safe and compliant manner. Zodia Custody was launched in 2021 by Standard Chartered and Northern Trust, and it recently entered the Singapore market to meet the growing demand for crypto custody services. The concept of connecting idle crypto with real-world assets has gained traction, with other companies like Helix also exploring this space. OpenEden, founded by former Gemini employees, plans to tokenize US Treasury Bills on-chain. The partnership with OpenEden will allow Zodia Custody to offer yield products to its clients, tapping into the billions of dollars’ worth of stablecoins that could be generating yields for investors.

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