Zodia Custody Ireland has become the latest virtual asset service provider (VASP) to register with Luxembourg’s national financial regulator, Commission de Surveillance du Secteur Financier (CSSF).
With this new status, the Irish arm of the UK-based, Standard Chartered-owned Zodia Custody will be able to provide custody services in the crypto space for financial institutions in Luxembourg.
The registration with CSSF indicates Zodia Custody Ireland’s intention to capitalise on the increased interest Luxembourgian financial institutions are showing in the maturing crypto market. In a report published last year by PwC and the Association of the Luxembourg Fund Industry (ALFI), 61 percent of the financial institutions surveyed stated a belief in crypto already being or becoming a strategic priority over the next two years.
This isn’t the first VASP registration Zodia Custody Ireland has attained. The firm has been registered with the Central Bank of Ireland since August 2022.