Zodia Custody, Standard Chartered's crypto subsidiary, is teaming up with OpenEden to create the "Zodia Custody Yield" service.
Zodia Custody Is Launching A Staking Service
Zodia Custody, Standard Chartered's crypto subsidiary, is teaming up with OpenEden to create the "Zodia Custody Yield" service, which allows clients to receive income on their crypto holdings. The programme tokenizes real-world assets such as treasury notes, allowing investors to earn return while reaping the benefits of blockchain technology.
Zodia Custody's goal is to provide institutional investors with off-chain income potential for their on-chain assets while maintaining the platform's security. Staking is a service in which crypto owners lock up their tokens to secure the blockchain and earn periodic payouts. Similar services have drawn the interest of European corporations, and Zodia recently expanded its custody services to Singapore.
Zodia Custody is backed by Standard Chartered, a British multinational banking and financial services company. The company provides institutional-grade custody services for digital assets, including cryptocurrencies and stablecoins. The launch of the staking service is part of the company's efforts to expand its services and attract institutional investors to the digital asset market.
The launch of Zodia Custody Yield is a significant development for the digital asset market, as it provides institutional investors with a new way to earn yield on their cryptocurrency holdings while they are held in custody. The service is expected to attract more institutional investors to the market, which could lead to increased adoption of digital assets and further growth in the industry.
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