Global banks are expected to continue their cryptocurrency-based activities with Standard Chartered, a British multinational bank, stated Cointelegraph. It is also expected that Global banks will raise new funds for Zodia, a crypto platform.
On April 27, 2023, with insights from the Bloomberg report, it has been founded out that Zodia, a crypto subsidiary have raised around $36 million, added Cointelegraph.
As reported by Cointelegraph, Japanese financial conglomerate SBI has initiated the fundraising and is expected to be the second-largest shareholder of Zodia Custody, Julian Sawyer, CEO, Zodia Custody, commented further.
It is expected this step of Standard Chartered of raising external funds after the growth of a subsidiary is a part of their strategy. Furthermore, “It is part of our strategy to be bank-backed, and all the good things that bring. That doesn’t mean there has to be a single bank,” Julian Sawyer, CEO, Zodia Custody, told Cointelegraph.
(With insights from Cointelegraph)
