Standard Chartered Bank continues to demonstrate strong confidence in the cryptocurrency sector, expanding its institutional-grade digital asset custody services globally through its platform, Zodia Custody.
Key Developments in Standard Chartered's Crypto Strategy
1. Bullish Crypto Forecasts in 2023
Bitcoin Price Predictions:
Ethereum Growth Potential:
- October 2023: Predicted ETH could surge to $8,000 by 2026, citing smart contract dominance and emerging use cases in gaming/tokenization (source).
2. Strategic Crypto Business Expansion
Zodia Custody Milestones
- 2021 Launch: Approved by UK’s FCA as a regulated crypto custodian (source).
Global Footprint:
Institutional Partnerships
- Collaboration with LMAX Digital and CoinShares for trading infrastructure (source).
- Staking services via Blockdaemon and Polkadot ecosystem support (sources, source).
3. Innovations in Digital Asset Services
- Proof-of-Ownership Tool: Launched by Zodia to verify crypto holdings securely (source).
- Yield Products: Partnered with OpenEden for institutional crypto yield offerings (source).
FAQs: Standard Chartered’s Crypto Initiatives
Q1: What cryptocurrencies does Zodia Custody support?
A1: Currently BTC and ETH, with plans to expand based on institutional demand.
Q2: How does Standard Chartered ensure security for digital assets?
A2: Through bank-grade cold wallet storage and FCA-regulated custody frameworks.
Q3: Which markets are next for Zodia’s expansion?
A3: Middle East (via Abu Dhabi) and Southeast Asia are priority regions post-Europe.
Q4: Can retail investors access Zodia’s services?
A4: No, Zodia exclusively serves institutional clients.
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