Zodia Custody, a crypto asset custodian under the British multinational Bank Standard Chartered (OTC:SCBFF), has been successfully registered as a virtual asset service provider (VASP) in Luxembourg with the help of the Commission de Surveillance du Secteur Financier (CSSF).
Significantly, being obtained the registration, Zodia Custody becomes the first organization partnered with a traditional financial institution to achieve legal status to flourish its operations and provide its custody services to financial institutions in Luxembourg.
Notably, on March 9, Zodia, the official Twitter page of Zodia Custody shared the “good news” that the company is “officially open for business in Luxembourg”:
In an interview, John Cronin, the Chief Executive Officer of Zodia Custody commented about his expectations that the platform’s relocation would help Zodia in many ways including attracting customers in the fund management industry as Luxembourg is a premier center for the industry.
Cronin asserted that there exists a “massive opportunity for financial institutions to offer a range of products and services related to crypto assets”, adding:
Significantly, being flourished as a registered custodian in Luxembourg, the company could expand its operations throughout the European Union (EU), providing multiple levels of financial services including the transfer and administration of crypto assets.
Interestingly, the CEO of Zodia, Julian Sawyer reiterated that the company understands the “requirements for financial institutions”, quoting:
It is noteworthy that Zodia is also enlisted on the Central Bank of Ireland’s VASP Register, by which the custodian became the first crypto asset custodian to flourish as a registered entity in Ireland.
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Source: Cryptocurrency - investing.com
