Standard Chartered, a British bank, has stated that it will use its Zodia Custody business to provide crypto broker services in Ireland. The crypto broker will focus on institutional investment contracts, which have grown in popularity in Ireland in recent months.
The Standard Bank-affiliated company intends to provide institutional investment services in Ireland. The Zodia Custody Company represents a crypto exchange and management system for both expert and novice investors for Standard Bank.
Zodia Custody and its ability to provide cryptocurrency broker services
SC Ventures aided the establishment of Zodia Custody in late 2020.
Northern Trust, a financial management organization, backed this alternative company as well. Because the two companies have prior experience in the bitcoin industry and Blockchain technology, this subsidiary will benefit from their expertise.
Zodia Custody is known for managing crypto investments for financial institutions. Since December of last year, Zodia Custody has been in contact with a number of potential clients. The firm’s work has received overwhelmingly good feedback, prompting it to register with the Financial Conduct Authority (FCA).
Zodia Custody has stated that their crypto broker services would focus on Ether, Bitcoin, Litecoin, Ripple, and Bitcoin Cash, according to their statement. In addition, Standard Chartered has chosen to create a website for businesses interested in employing cryptocurrency.
SC Ventures is now a part of the cryptocurrency management team.
SC Ventures has been operating as a cryptocurrency broker since June 2021. This brokerage firm partnered with BC Technology Group to boost the reputation of its cryptocurrency offerings. SC Ventures wants to make it possible for financial institutions to buy bitcoin and ether through its platform.
Mellon Bank in New York has also started selling crypto broker services and built a virtual renewal platform.
Ireland has continued to develop in the cryptocurrency field, despite the fact that not all members of the European Union support it. Despite the legal struggle against Binance Group and its operations, the UK insists on crypto regulation. Cryptocurrency use continues to rise in Ireland, prompting renowned crypto exchanges like Kraken to expand their operations.