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Standard Chartered Expands in Crypto Field! Standard Chartered, a British finance giant, is increasing its activities in the crypto sector and making significant strides towards providing service to Hong Kong. The bank’s operating unit, Zodia Custody, is looking to enter the Hong Kong market.
Zodia Custody‘ s CEO Julian Sawyer, in an interview with the US media CNBC, pointed out that there is a group of investors in Hong Kong which is increasing demand for businesses’ cryptocurrencies. Moreover, he said that “The Hong Kong administration sees cryptocurrencies as future investment tools and aims to be in a central position in this field. This situation is of great importance to us”.
Zodia Custody recently gained attention not only by providing staking services but also by collaborating with companies like Open Eden to transfer real-world assets using blockchain technology. The company has also started offering its services in countries such as Singapore, Australia, and Japan and counts a Japanese giant like SBI Holdings among its significant business partners. Zodia had raised approximately $40 million in investment in April.
Sawyer also stated that Hong Kong is currently the final point for expansion in Asia. Recently, Hong Kong has attracted attention by accepting exchange-traded funds supporting cryptocurrencies like Bitcoin and Ether and updating its cryptocurrency regulations.
It is also important to note that during a period when cryptocurrencies are completely banned in China, Hong Kong is seen as a place that wants to strengthen its ties with the world in this field. It is clear that thousands of Chinese citizens travel to Hong Kong every day to carry out cryptocurrency transactions.
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