Top British Bank’s Crypto Arm Launches an Innovative Earnings Program
Standard Chartered's crypto division, Zodia Custody, has introduced an innovative service tailored to crypto investors seeking passive income from their digital holdings.
This subsidiary, specializing in safeguarding crypto assets for institutions, recently inked a collaboration with OpenEden, a Singapore-based blockchain technology provider, to introduce the Zodia Custody Yield program. This program is designed to offer staking services exclusively to institutional clients.
The partnership between Zodia and OpenEden aims to meet the growing demand for digital asset products characterized by low-risk profiles, liquidity, and transparency.
Zodia elaborates on the benefits of this collaboration, stating, “Institutions will have access to real-world yield potential from US Treasury bills, facilitated by OpenEden’s platform, which ensures on-chain security and transparent management of real-world assets overseen by regulated fund managers.”
Jeremy Ng, co-founder of OpenEden, underscores the program’s mission to create yield opportunities for stablecoin holders, remarking, “There are substantial sums of stablecoins idling without generating returns for investors.
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This presents a significant opportunity that Zodia Custody and our platform aspire to unlock for institutions. Our service platforms enable issuers and investors to participate in the digital asset market through tokenized financial products, offering safety and transparency.”
Zodia Custody proudly unveiled this groundbreaking product and its strategic alliance with OpenEden following its distinction as the first bank-owned entity providing digital asset custody services to financial institutions in Singapore.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
