Zodia Custody, a London-based crypto storage solution backed by finance giants Standard Chartered and Northern Trust, is taking a step towards a greener future by joining Tech Zero, a network of tech companies that have pledged to reach net-zero carbon emissions by 2030. The crypto storage platform is the first of its kind to become part of the initiative and seeks to demonstrate that climate accountability is a necessary step in an industry that has previously been criticized for its negative environmental impact.

Zodia Custody will track its scope 1, 2, and 3 emissions annually, disclose its plans to reach net-zero within a year and will appoint an executive to oversee the process of emissions reduction. To achieve the target, the firm will implement a series of measures such as setting ESG agendas, evaluating suppliers' sustainability, encouraging green client activity, and adopting a carbon offsetting strategy.

The company has already taken steps to reduce its environmental footprint such as recycling office waste and tech equipment and aiming for a carbon-neutral office.

The Tech Zero Taskforce, established in 2021, is a significant development in the effort to reach net-zero greenhouse gas emissions in the UK by 2030. This is because it ensures the increased participation of tech companies towards the noble cause.

Notably, this follows the recent announcement from SBI Digital, a Tokyo-based financial services group that lead a $36m Series A investment to become the second-largest shareholder in Zodia Custody. These funds are allocated to global expansion and various enhancements to Zodia’s Interchange, the platform’s settlement solution.

Elsewhere, Standard Chartered, one of Zodia’s majority owners, has made waves in the cryptoverse over its BTC projections. According to a note to investors, the bank anticipates the digital asset to surge to $100,000 by the end of 2024, citing its status as a safe haven, improved miner profitability, and expected supply shock after next year’s halving.

At the end of the day, all these developments show that the crypto storage platform, together with its prominent backing, are covering all bases and increasingly fuelling the rise of the crypto industry. Through their inclusion in Tech Zero and their various expansion plans, Zodia Custody is proving that a commitment to sustainability can have tremendous impact.



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