Zodia Custody, the crypto custodian backed by Standard Chartered and Northern Trust, has announced its launch in Hong Kong.
The move is the next stage in the UK-based firm’s Asian expansion strategy – it launched in Singapore and has also launched in Japan and Australia.
According to Zodia chief executive Julian Sawyer, Hong Kong’s crypto market is predominantly led by an institutional client base rather than retail investors.
Sawyer also told US TV channel CBBC that the Hong Kong government and regulators are keen to establish the special administrative region as a digital assets hub.
This approach contrasts with the Chinese mainland, where there is currently a ban on crypto trading.
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