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

Zodia Custody CEO Julian Sawyer said in an interview that the custody firm is looking to raise $50 million from investors to drive its expansion into new regions and broaden its product range.

While Zodia has received support from several financial firms, Sawyer added that they aim to attract a more diverse set of investors, including payment and tokenization companies. Sawyer stated that advisory firm Architect Partners, which focuses on the crypto industry, is assisting in this effort that began last month.