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HomeForexCustomary Chartered-owned crypto custodian registers with Luxembourg regulator By Reuters

Customary Chartered-owned crypto custodian registers with Luxembourg regulator By Reuters



© Reuters. FILE PHOTO: The Customary Chartered financial institution emblem is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls

By Elizabeth Howcroft

LONDON (Reuters) – Zodia Custody, a crypto custodian owned by Customary Chartered (OTC:), stated on Friday it has registered its Irish unit with Luxembourg’s monetary regulator.

The registration will enable Zodia to offer digital asset custody companies for monetary establishments in Luxembourg, the corporate stated.

Based on the regulator’s web site, Zodia shall be topic to supervision from the watchdog for compliance with guidelines round anti-money laundering and combating the financing of terrorism.

“There’s a huge alternative for monetary establishments to supply a variety of services associated to cryptoassets,” John Cronin, chief govt of Zodia Custody Eire, stated in an announcement on Friday.

Cronin stated the agency is seeing rising curiosity from traders in establishing merchandise comparable to a “RAIF” – a sort of Luxembourg funding fund for various belongings that may be arrange with out regulatory approval.

The registration was first reported by Bloomberg Information on Thursday.

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