# Zodia Custody Expands with TCSP License Approval in Hong Kong

**Summary:**
Zodia Custody (HK) has achieved a significant milestone by securing the Trust or Company Service Provider (TCSP) license, enabling the Standard Chartered-backed digital assets custody platform to offer regulated services to institutional clients in Hong Kong. With this license, Zodia Custody aims to establish itself in the crypto space within the region. The move comes as Hong Kong strives to strengthen its position as a digital assets hub.

Zodia Custody’s focus on the Hong Kong market aligns with the region’s efforts to boost its global status in the digital assets sector. The company has appointed Kal Chan as CEO to drive the adoption of digital assets in the area. Leveraging its bank-backed background, Zodia Custody aims to meet regulatory and institutional objectives effectively.

In partnership with Metaco, a crypto storage provider associated with Ripple, Zodia Custody integrated global sub-custody services in December. This integration mirrors the role of custody providers in traditional banking systems.

Zodia Custody’s expansion into the Hong Kong market signifies a strategic move to cater to institutional clients locally and internationally while ensuring compliance with TCSP regulations.

**FAQ:**

**1. What is a TCSP license?**
A TCSP license, short for Trust or Company Service Provider license, authorizes firms to provide designated services in Hong Kong, ensuring compliance with regulatory standards.

**2. How does Zodia Custody plan to leverage its TCSP license in Hong Kong?**
Zodia Custody intends to offer regulated digital assets custody services to institutional clients in Hong Kong and internationally, enhancing its presence in the crypto space within the region.

**3. Who is Kal Chan, and what is his role at Zodia Custody?**
Kal Chan is the CEO of Zodia Custody, appointed to lead the company’s efforts in driving the adoption of digital assets in Hong Kong. His focus includes aligning Zodia Custody’s operations with the region’s regulatory and institutional goals.

**4. What was the significance of Zodia Custody’s integration with Metaco in December?**
The integration with Metaco facilitated global sub-custody services for Zodia Custody, expanding its offerings and capabilities similar to traditional banking custody providers.

**5. How does Zodia Custody aim to contribute to Hong Kong’s digital assets market growth?**
Zodia Custody’s presence in Hong Kong is expected to contribute to the region’s aspirations of becoming a prominent digital assets hub by providing regulated and secure digital assets custody services to institutional clients.

**6. What are the benefits of using a regulated digital assets custody provider like Zodia Custody?**
Regulated digital assets custody providers offer institutional clients a secure and compliant platform to safeguard their digital assets, ensuring transparency and reliability in asset management.