Zodia Custody, a crypto asset servicing provider for institutional investors, has increased its coin coverage to offer more options for institutional investors.
The FinTech company has increased the coverage to a total of 38 coins and tokens. This was done based on institutional investor customer demand.
The new coins and tokens will help expand the opportunities for users to participate in the digital asset markets through Zodia Custody’s fully FCA-registered crypto asset custody services.
With the expansion, the platform now supports safekeeping and settlement services for nine native coins, as well as 29 tokens aligned with the Ethereum Request for Comment 20 (ERC-20) standard.
This is not the end of expansion efforts, with Zodia looking to support more coins and tokens. It will prioritise inclusion based on its clients needs and requirements, as well as the digital asset’s regulatory characterisation.
Zodia Custody CEO Julian Sawyer said, “This is yet another significant step in ensuring that Zodia Custody is able to meet the complete needs of our institutional partners.
“Through Zodia Custody, institutional participants in the digital assets markets already have access to cutting-edge and crypto native technology with bank-level compliance and governance. Now, they will be able to safely and securely access even more investment possibilities through our expanded custody coverage.
“At a time when institutional adoption is on the rise, and the crypto market is maturing at speed, it is essential that we continually offer greater possibilities for safeguarded exposure.”
Zodia Custody, which is based in London, provides institutions the ability to safely invest into crypto assets.
In other cryptocurrency news, The Reserve Bank of Australia announced a collaboration with the Digital Financial Cooperative Research Centre on a research project to explore potential use cases of CBDC in Australia.
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