Standard Chartered's cryptocurrency custody arm, Zodia Custody, is in talks to raise $50 million in a new funding round.

BlockBeats News, November 4th, according to Bloomberg, Zodia Custody Ltd., the crypto custody arm of Standard Chartered Bank, is in talks to raise a new $50 million funding round. Zodia Custody CEO Julian Sawyer stated in an interview that the custody provider is seeking $50 million from investors to drive its expansion into new regions and broaden its product range. While Zodia has received backing from several financial firms, Sawyer added that they aim to attract a more diverse set of investors, including payment and tokenization companies. Sawyer noted that advisory firm Architect Partners, specializing in the crypto industry, is assisting in this effort that began last month.