Zodia Custody, a cryptocurrency security company owned by Standard Chartered Bank, announced that it is launching its services in Hong Kong. Julian Sawyer, CEO of Zodia, said that the demand for cryptocurrencies in the Hong Kong market is driven by institutions rather than retail customers. The Hong Kong government and regulatory authorities view digital assets as the future and hope that Hong Kong will become a center for them. The Securities and Futures Commission of Hong Kong launched a regulatory regime for digital assets earlier this year, allowing companies to apply for registration and provide services in a regulated manner. Zodia is starting its expansion in Hong Kong in phases. It will seek to provide limited cryptocurrency asset services to Hong Kong customers and discuss matters related to accepting regulation in the financial district with the Securities and Futures Commission and the Hong Kong Monetary Authority.