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Standard Chartered (SCBFF) Bets on Crypto Services
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investopedia.comBritish multinational bank Standard Chartered PLC (SCBFF) and Northern Trust Corporation (NTRS) are partnering to launch a crypto custody service targeted at institutional investors. Called Zodia, the new service will begin operations in 2021. It will provide custody services for the five most traded cryptocurrency assets – Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash – which together represent 80% of the total market capitalization of the cryptocurrency market.
«The introduction of digital custody backed by the know-how and experience of global banks is a breakthrough in the evolution and support of institutional cryptocurrency markets,» stated Pete Cherecwich, president of Corporate & Institutional Services at Northern Trust.
Northe
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