Zodia Customer, a cryptocurrency custodian, raises $36 million in A-round financing

04/27/2023 00:05 • Tech Ticker • 144 views

According to reports, Zodia Customer, a subsidiary of Standard Chartered Bank and a cryptocurrency custodian, completed a $36 million A-round financing, with Japanese SBI leading the investment and becoming the second largest shareholder. The funds raised will be used for regional expansion outside the European and Asian markets, as well as to increase more digital assets, including collateralized ETHs.

Zodia Customer, a subsidiary of Standard Chartered Bank, completed a Series A financing of $36 million

Introduction

Zodia Customer, a subsidiary of Standard Chartered Bank, recently completed a $36 million A-round financing, with Japanese SBI leading the investment and becoming the second largest shareholder. The funds raised will be used for regional expansion outside of European and Asian markets, as well as increasing more digital assets, including collateralized ETHs.

What is Zodia Customer?

Zodia Customer is a UK-based cryptocurrency custodian, with a focus on providing secure storage for digital assets. As cryptocurrencies continue to gain popularity, the need for secure storage solutions has increased, and Zodia aims to address this need by offering institutional-grade custody solutions.

A-Round Financing

In the recent A-round financing, Zodia raised $36 million, with SBI as the lead investor. This financing round also saw participation from existing investors, such as SC Ventures, the innovation arm of Standard Chartered Bank.

What is the significance of the A-Round Financing for Zodia Customer?

A-round financing is an important milestone for any company, as it provides the capital required for growth and expansion. Zodia Customer will use the funds to expand its services beyond the European and Asian markets, as well as increase its range of digital assets.

What is the significance of SBI’s investment in Zodia Customer?

SBI’s investment in Zodia Customer is significant for several reasons. Firstly, SBI is a leading financial institution in Japan, with a strong presence in the Asian market. This investment provides Zodia with access to SBI’s extensive network, which will be critical for its expansion plans. Secondly, SBI’s investment is a show of confidence in Zodia’s business model and technology, which is likely to have a positive impact on Zodia’s future growth prospects.

Conclusion

Zodia’s recent A-round financing is a significant milestone for the company, and is likely to accelerate its growth plans. With the backing of SBI, Zodia is well-positioned to expand its services beyond Europe and Asia, and become a leading player in the cryptocurrency custody space.

FAQs

What is Zodia Customer?

Zodia Customer is a UK-based cryptocurrency custodian, providing secure storage solutions for digital assets.

What is A-round financing?

A-round financing is a type of venture capital financing, which provides capital to companies in the early stages of development.

What does SBI’s investment mean for Zodia Customer?

SBI’s investment is a show of confidence in Zodia’s business model and technology, and provides Zodia with access to SBI’s extensive network, which is likely to accelerate its growth plans.

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