Zodia Custody - Series A

Standard Chartered's spin-off crypto custodial unit Zodia Custody Ltd. closed $36 million in new funding as part of a round led by Japan's SBI Holdings, the digital-asset firm said on Thursday, marking a dilution of the British bank’s ownership over its subsidiary. The series A fundraise, which also saw the bank’s venture arm SC Ventures participate, followed the launch of Zodia’s business in Japan as a joint venture with SBI Holdings in February. 

Zodia will use the funds for geographic expansion beyond its present markets in Europe and Asia, adding that the firm is also interested in opportunities in the Middle East. The funding will also be used to add more digital assets to Zodia's coverage — including staked Ether, which has been in demand from the market following a key network upgrade for the Ethereum blockchain this month — and further develop its off-exchange settlement network.