By Elizabeth Howcroft
LONDON, March 10 (Reuters) - Zodia Custody, a crypto
custodian owned by Standard Chartered , said on Friday
it has registered its Irish unit with Luxembourg's financial
regulator.
The registration will allow Zodia to provide digital asset
custody services for financial institutions in Luxembourg, the
company said.
According to the regulator's website, Zodia will be subject
to supervision from the watchdog for compliance with rules
around anti-money laundering and combating the financing of
terrorism.
"There is a massive opportunity for financial institutions
to offer a range of products and services related to
cryptoassets," John Cronin, chief executive of Zodia Custody
Ireland, said in a statement on Friday.
Cronin said the firm is seeing increasing interest from
investors in establishing products such as a "RAIF" - a type of
Luxembourg investment fund for alternative assets that can be
set up without regulatory approval.
The registration was first reported by Bloomberg News on
Thursday.
(Reporting by Elizabeth Howcroft; Editing by Shounak Dasgupta)
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