Cryptocurrency custodial startup Zodia plans to launch a collateral management offering that enables institutional investors to generate yield.
The firm, supported by Standard Chartered and Northern Trust, anticipates that the array of products will get a regulatory license and launch this year.
Zodia is also looking to grow its staking products and link clients to decentralized finance protocols once the approvals are obtained.
The startup is planning to increase the number of its supported virtual assets by April outside its current custody of bitcoin and ether.
Zodia’s CEO, Maxime de Guillebon, says that enterprises are looking for services in the crypto sector beyond the spot exposure to cryptocurrencies.
The executive underscores the demand by clients for seamless access to liquidity, leverage, and yield in products that are similar to traditional instruments.
Standard Chartered’s SC Ventures teamed up with Northern Trust in 2020 to support Zodia. The company obtained approval from the Financial Conduct Authority in 2021.
Source: The Block