🌎 Zodia Custody Chosen for 21Shares’ Crypto ETPs in Switzerland

British crypto custodian Zodia Custody has been chosen as the custodian provider for 21Shares’ physically backed ETP products in Switzerland. Zodia Custody, supported by Standard Chartered and SBI Holdings, announced it would offer custody services for physically backed exchange-traded products (ETPs) in Switzerland and across Europe. This move addresses the increasing demand for ETPs.

Mandy Chiu, 21Shares’ head of financial product development, noted that this collaboration is a significant milestone in their commitment to providing top-tier investment opportunities. She emphasized Zodia’s cold storage infrastructure and streamlined compliance solutions.

In addition to Zodia Custody, 21Shares also utilizes custodian services from other providers, including Coinbase Custody and Copper. Copper, another British crypto custodian, was founded in 2018 by Dmitry Tokarev.

The partnership with Zodia Custody follows closely on the heels of Zodia securing funding from NAB Ventures, the venture capital arm of National Australia Bank (NAB). Although the funding amount was not disclosed, NAB Ventures’ managing director Amanda Angelini highlighted Zodia’s innovative approach, institution-grade safety, and strong regulatory compliance as key factors for the investment.

Founded in 2020 by Standard Chartered in association with Northern Trust, Zodia Custody has raised a total of $44 million from five investors. This financial backing supports their mission to provide secure and compliant custody solutions for the growing cryptocurrency market.