Share this article
Standard Chartered, Northern Trust to Launch Crypto Custody Service in the UK
Zodia Custody is currently pending approval by the U.K.'s Financial Conduct Authority and is expected to launch in 2021.
Updated Feb 10, 2023, 2:48 p.m. Published Dec 9, 2020, 12:57 p.m.
Standard Chartered's fintech investment unit, SC Ventures, and Northern Trust are to launch a U.K.-based cryptocurrency custodian for institutional clients.
- Called Zodia Custody, the new firm is currently pending approval by the U.K.'s Financial Conduct Authority under local money laundering regulations.
- Once approved, the new company will provide custody services for bitcoin and ethereum, initially, with litecoin, bitcoin cash and XRP to follow.
- These cryptocurrencies were chosen as they account for around 80% of the total assets traded on major cryptocurrency exchanges, according to a Wednesday announcement.
- "We combine the risk management, compliance, governance and security approach of a regulated financial institution with the cutting-edge innovation of crypto asset and key management technologies," said Maxime De Guillebon, Zodia CEO.
- Singapore-based SC Ventures said the launch anticipates greater participation from institutional investors, who so far account for just 9% of crypto asset investments.
- The custody platform will target institutional cryptocurrency holders, as well as family offices and asset managers who want to invest in cryptocurrencies.
- Zodia is expected to begin operating in London in 2021.
See also: Standard Chartered, Philippines Bank Issue $187M Blockchain Bond
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. Spot XRP ETFs Hit 15-Day Inflow Streak, Near $1B Milestone
U.S. spot XRP ETFs approaching $1 billion are the most significant altcoin launch yet, validating a regulatory blueprint for all utility tokens and signaling Wall Street's post-lawsuit conviction.
What to know:
- U.S. spot XRP ETFs are on track to surpass $1 billion in inflows soon, following a 15-day streak of net investments.
- The ETFs have benefited from the resolution of Ripple's court case with the SEC, which clarified XRP's regulatory status.
- Institutional interest in XRP ETFs is driven by their stability and liquidity, distinguishing them from other crypto ETFs.
Top Stories
