SOLOWIN Signs Strategic Partnership with Zodia Custody to Facilitate Hong Kong’s Digital Asset Ecosystem
SOLOWIN Holdings (Nasdaq: SWIN) has announced a strategic partnership with Zodia Custody, a digital asset custodian backed by Standard Chartered. The collaboration aims to provide secure, bank-grade custody services for SOLOWIN's clients in Hong Kong. Zodia Custody, recently selected by NASDAQ as a core custodian for its crypto indexes, will be one of several custody providers available to SOLOWIN's clients, offering enhanced security and compliance features. The partnership will explore opportunities to combine resources and regulatory frameworks to meet growing investor demand in the region, subject to regulatory approvals.
SOLOWIN Holdings (Nasdaq: SWIN) ha annunciato una partnership strategica con Zodia Custody, un custode di asset digitali supportato da Standard Chartered. La collaborazione ha l'obiettivo di fornire servizi di custodia sicuri, di livello bancario, per i clienti di SOLOWIN a Hong Kong. Zodia Custody, recentemente selezionata da NASDAQ come custode principale per i suoi indici crypto, sarà uno dei diversi fornitori di custodia disponibili per i clienti di SOLOWIN, offrendo funzionalità di sicurezza e conformità avanzate. La partnership esplorerà opportunità per combinare risorse e quadri normativi per soddisfare la crescente domanda degli investitori nella regione, soggetta ad approvazioni normative.
SOLOWIN Holdings (Nasdaq: SWIN) ha anunciado una asociación estratégica con Zodia Custody, un custodio de activos digitales respaldado por Standard Chartered. La colaboración tiene como objetivo proporcionar servicios de custodia seguros, de nivel bancario, a los clientes de SOLOWIN en Hong Kong. Zodia Custody, recientemente seleccionada por NASDAQ como custodio principal para sus índices de criptomonedas, será uno de varios proveedores de custodia disponibles para los clientes de SOLOWIN, ofreciendo características de seguridad y cumplimiento mejoradas. La asociación explorará oportunidades para combinar recursos y marcos regulatorios para satisfacer la creciente demanda de los inversores en la región, sujeto a aprobaciones regulatorias.
SOLOWIN Holdings (Nasdaq: SWIN)는 Standard Chartered가 지원하는 디지털 자산 수탁자 Zodia Custody와 전략적 파트너십을 발표했습니다. 이 협력은 홍콩의 SOLOWIN 고객에게 안전하고 은행 수준의 수탁 서비스를 제공하는 것을 목표로 합니다. Zodia Custody는 최근 NASDAQ에 의해 암호화폐 지수의 주요 수탁자로 선택되었으며, SOLOWIN의 고객을 위해 사용할 수 있는 여러 수탁 제공업체 중 하나가 되어 고급 보안 및 규정 준수 기능을 제공합니다. 이 파트너십은 규제 승인을 조건으로 지역 내 증가하는 투자자 수요를 충족하기 위해 자원과 규제 프레임워크를 결합할 기회를 탐색할 것입니다.
SOLOWIN Holdings (Nasdaq: SWIN) a annoncé un partenariat stratégique avec Zodia Custody, un gardien d'actifs numériques soutenu par Standard Chartered. La collaboration vise à fournir des services de garde sécurisés, de niveau bancaire, aux clients de SOLOWIN à Hong Kong. Zodia Custody, récemment sélectionnée par NASDAQ en tant que gardien principal pour ses indices de cryptomonnaies, sera l'un des plusieurs fournisseurs de services de garde disponibles pour les clients de SOLOWIN, offrant des fonctionnalités de sécurité et de conformité améliorées. Le partenariat explorera les opportunités de combiner des ressources et des cadres réglementaires pour répondre à la demande croissante des investisseurs dans la région, sous réserve d'approbations réglementaires.
SOLOWIN Holdings (Nasdaq: SWIN) hat eine strategische Partnerschaft mit Zodia Custody angekündigt, einem digitalen Vermögensverwalter, der von Standard Chartered unterstützt wird. Die Zusammenarbeit zielt darauf ab, sichere, bankengerechte Verwahrungsdienstleistungen für die Kunden von SOLOWIN in Hongkong anzubieten. Zodia Custody, die kürzlich von NASDAQ als Hauptverwahrer für seine Krypto-Indizes ausgewählt wurde, wird einer von mehreren Verwahrungsanbietern sein, die den Kunden von SOLOWIN zur Verfügung stehen und verbesserte Sicherheits- und Compliance-Funktionen bieten. Die Partnerschaft wird Möglichkeiten erkunden, Ressourcen und regulatorische Rahmenbedingungen zu kombinieren, um der wachsenden Nachfrage der Investoren in der Region gerecht zu werden, vorbehaltlich regulatorischer Genehmigungen.
- Partnership with Standard Chartered-backed Zodia Custody enhances service offerings
- Addition of a NASDAQ-selected custodian strengthens market position
- Expansion of custody service options for clients
- Services subject to pending regulatory approvals
- Zodia is one of several providers, indicating non-exclusive partnership
Insights
This strategic partnership represents a calculated move into the institutional digital asset custody space, though with immediate financial impact. While partnering with Zodia Custody, backed by Standard Chartered and selected by NASDAQ, adds credibility, several factors temper the near-term significance:
- The agreement is non-exclusive, as Zodia will be just one of multiple custody providers
- No financial terms or revenue projections were disclosed
- Implementation depends on pending regulatory approvals
The partnership primarily positions SOLOWIN for potential future growth in Hong Kong's digital asset market, offering enhanced security and compliance features. However, with SOLOWIN's relatively small market cap of
HONG KONG, Nov. 21, 2024 (GLOBE NEWSWIRE) -- SOLOWIN HOLDINGS (Nasdaq: SWIN) (“SOLOWIN” or the “Company”), a leading financial services firm providing high-net-worth and institutional investors with solutions across traditional and virtual assets, today announced its strategic partnership with Zodia Custody, a leading institution-first digital asset custodian backed by Standard Chartered, which has been selected by NASDAQ as a new core custodian for its suite of crypto indexes, to strengthen Hong Kong’s digital asset ecosystem. This partnership aims to offer secure, bank-grade and compliant custody services in Hong Kong for SOLOWIN’s clients.
Zodia Custody will be one of several custody providers available to Solowin's diverse client base, enhancing the range of options offered with its additional layers of security, control and bank-grade compliance for their digital asset holdings. In addition, SOLOWIN and Zodia Custody will jointly explore opportunities to combine their expansive resources and global regulatory licensing framework (existing and future) to maximize synergies and capitalize on growing investor demand in the region. All offerings will be subject to necessary regulatory approvals.
Mr. Marco Lim, Web3 Partner of SOLOWIN, commented, “Partnering with Zodia Custody allows us to enhance our service offerings and meet the evolving needs of our clients while at the same time strengthening Hong Kong’s digital asset ecosystem with a fully segregated wallet. Zodia Custody provides SOLOWIN with solutions including wallet management, protection and bank-grade compliance, which enables our investors around the globe to realize the full potential of the digital asset future-simply, safely, and without compromise.”
Richard Clark, Chief Revenue Officer of Zodia Custody, added “SOLOWIN has built a prominent position in Hong Kong’s digital asset ecosystem with its extensive expertise in financial product development and a deep understanding of the local market; we both share a deep commitment to innovation and strict regulatory compliance, making them an ideal partner. We look forward to working closely together to strengthen Hong Kong’s digital asset ecosystem.”
About Solowin Holdings
Solowin Holdings (NASDAQ: SWIN) is a Hong Kong based financial services firm providing a comprehensive one-stop solution for high-net-worth and institutional investors worldwide. Spanning both traditional and virtual assets, Solowin's offerings include investment banking, wealth management, asset management, and Web3, tailored to support the next generation of investors. Solowin's wholly owned subsidiary, Solomon JFZ (Asia) Holdings Limited ("Solomon JFZ"), is one of Hong Kong's first batch regulated virtual asset service providers. Its advanced electronic platform, Solomon VA+, is Hong Kong's first all in one app to integrate traditional and virtual asset trading with wealth management services.
For more information, please visit the Company's corporate website at https://solowin.io or investor relations website at https://ir.solowin.io.
About Zodia Custody
Zodia Custody is the leading institution-first digital asset custodian by Standard Chartered, in association with Northern Trust, SBI Holdings and National Australia Bank. It enables institutional investors around the globe to realise the full potential of the digital asset future – simply, safely, and without compromise. Through the combination of leading technology, custody, governance and compliance, Zodia Custody satisfies the complex needs of institutional investors.
Zodia Custody implements the requirements of the 5AMLD and applies the same standards as Standard Chartered relating to AML, FCC, and KYC. It implements the requirements of the FATF Travel Rule. Zodia Custody Limited is registered in the UK with the FCA as a crypto asset business under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. Zodia Custody (Ireland) Limited is registered with the Central Bank of Ireland as a VASP under Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended). Zodia Custody (Ireland) Limited was established in Ireland in August 2021. Zodia Custody Limited is registered with the CSSF in Luxembourg as a Virtual Asset Service Provider in accordance with article 7-1 (2) of the law dated 12 November 2004 on the fight against money laundering and terrorist financing, as amended. Zodia Custody ( Singapore) Pte Ltd has been granted an exemption from holding a license under the Payment Services Act 2019 ("PS Act") by the MAS for a specified period. Zodia Custody (Singapore) Pte Ltd is not licensed under the Payment Services (PS) Act but is permitted to provide payment services under the expanded scope of the PS Act introduced by the Payment Services (Amendment) Act 2021 provided it continues to meet the conditions of the temporary exemption. Zodia Custody (Hong Kong) is registered with the Registry for Trust and Company Service Provider under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), Cap. 615 in respect of its custodial activities in digital assets.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the Company’s most recent annual report on Form 20-F as well as in other reports filed or furnished from time to time with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC, which are available for review at www.sec.gov.
For investor and media inquiries please contact:
SOLOWIN HOLDINGS
Investor Relations Department
Email: ir@solomonwin.com.hk
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
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