Skip to main content

Standard Chartered to Rock the Cryptocurrency Space with Bitcoin (BTC), ETH, XRP, LTC and BCH

 


Standard Chartered to Rock the Cryptocurrency Space with Bitcoin (BTC), ETH, XRP, LTC and BCH


Reportedly, Standard Chartered is preparing to launch an institutional-grade cryptocurrency custody platform. It has been stated that the multinational bank will be working with Chicago-based Northern Trust to launch Zodia Custody, which is a cryptocurrency custodian solution.

Zodia Custody will facilitate institutional investments into Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH).

It is very obvious that cryptocurrency assets are getting institutional attention.  Those who like to explore the cryptocurrency space need an avenue to make things work.  Now, Standard Chartered are making it possible to take advantage of traditional banking structures and the cutting edge fintech to help customers who are looking to benefit from the cryptocurrency space.

It has been stated that “The launch of Zodia demonstrates our commitment to rewiring the DNA in banking.  Drawing on Standard Chartered’s heritage of providing custody services to institutional clients for 160 years, Zodia’s mission is to be a ‘force for good’ by lifting industry standards for digital assets in a sustainable, safe and responsible way.”

Zodia, Microstrategy, Square Inc

When Zodia successfully registers with UK Financial Conduct Authority (FCA), the agreement have to state that the firm is set to begin work in 2021.

In this regard, Sydney Ifergan, the crypto expert tweeted:  “The march in the cryptocurrency space is heating up.  PayPal, Standard Chartered and major financial institutions taking to BTC, ETH, XRP, LTC and BCH.”

Recently, 169-Year-Old Mass Mutual invested $100 Million in Bitcoin for their General Investment Fund.  This is yet another real-time proof of a mainstream firm to come in to digital assets. 

Important to note, MicroStrategy Inc. have expanded their investments into the BTC.

Michael Saylor “Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.”

Square Inc., have invested in to cryptocurrency an ideal proof of institutional adoption and demand.  Square, Inc. recently announced today that they have purchased approximately 4,709 Bitcoin reporting an aggregate purchase price of $50 million.

This investment represents nearly one percent of Square’s total assets during the end of the second quarter of 2020.  

The one percent is just the beginning, it is not going to be difficult to step in with the 1% of their total assets in to BTC and this will eventually make real-time proof for the validity of BTC as a store of value.

It is very obvious that these initial investments is just a first step.  

Just like any other investment and are likely to explore future opportunities.

Source: thecurrencyanalytics.com

Comments

Post a Comment

Contact us

Name

Email *

Message *

Popular posts from this blog

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry.  The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling.  Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...
Post a Comment
Read more

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

  Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move  does not seem to be going over well  with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a  FAQ provided by Coinbase , for Canadian users, ...
Post a Comment
Read more

Farm GRASS earn MONEY

  Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets.  One such groundbreaking avenue involves earning money by selling your unused internet connection.  By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks.  It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen.  The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...
Post a Comment
Read more