By Elizabeth Howcroft

LONDON (Reuters) – Zodia Custody, a crypto custodian owned by Normal Chartered (OTC:), mentioned on Friday it has registered its Irish unit with Luxembourg’s monetary regulator.

The registration will permit Zodia to supply digital asset custody companies for monetary establishments in Luxembourg, the corporate mentioned.

In line with the regulator’s web site, Zodia can be topic to supervision from the watchdog for compliance with guidelines round anti-money laundering and combating the financing of terrorism.

“There’s a large alternative for monetary establishments to supply a variety of services and products associated to cryptoassets,” John Cronin, chief government of Zodia Custody Eire, mentioned in an announcement on Friday.

Cronin mentioned the agency is seeing rising curiosity from traders in establishing merchandise resembling a “RAIF” – a sort of Luxembourg funding fund for different property that may be arrange with out regulatory approval.

The registration was first reported by Bloomberg Information on Thursday.