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Zodia Custody, a unit of Standard Chartered Bank, is registered as a virtual asset service provider in Luxembourg

BlockBeats, March 10, Zodia Custody, a cryptographic custody platform owned by Standard Chartered Bank, has been registered in Luxembourg as a virtual asset service provider, extending its reach to Europe. In an interview with Bloomberg News, Zodia Custody chief executive John Cronin said, The company will announce in Luxembourg on Friday that its Irish subsidiary is registered with Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). Cronin said the move would give Zodia access to more fund management clients because of Luxembourg's reputation as a preferred hub for such activities. It will also enable the company to further develop its business in the EU ahead of new cryptocurrency rules, which will include provisions to make it easier for companies to export their registrations across the EU.
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1. In 2024, Cactus Custody added 177 institutional clients, reached an asset under management of $4 billion, supported 56 blockchains, added 14 DeFi connectors, processed over 1.5 billion transactions daily, and launched the Oasis OTC settlement service. 2. The company entered into strategic partnerships with several leading enterprises, including Elven, Blocknative, Tenderly, Victory Securities, InvestaX, and RedotPay, aiming to enhance digital asset auditing capabilities, real-time insights and MEV protection, on-chain visibility, institutional-grade custody bridges, real-world asset tokenization, and settlement efficiency and compliance. 3. Cactus Custody continues to innovate in the DeFi space, collaborating with CoreDAO to support Layer1 solutions, staking $147 million in BTC through the Babylon Cap2 event, and enhancing the security and interoperability of the Bitcoin network as a validator on the exSat mainnet. 4. The company achieved significant milestones in trust and compliance, partnering with Vistra to offer top-tier trust services, strengthening compliance and security frameworks, obtaining SOC 2 Type 2 certification, securing a temporary exemption from the Monetary Authority of Singapore (MAS), and continuing to provide digital payment token custody services. 5. Cactus Custody plans to introduce more advanced technology in 2025, establish additional strategic partnerships, attract more institutional participation, uphold the principle of "safety first, integrity always," and strive to create a more secure and user-friendly digital asset management service.
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