Zodia Custody Introduces Product for Seamless Crypto Transfers
Zodia Custody, a crypto custody firm supported by Standard Chartered, has unveiled a new product called “Interchange Connect.” This offering aims to create a network that connects different institutional crypto accounts, enabling seamless transfer of cryptocurrencies and trade settlements across various platforms. The product is set to be available in the first quarter of 2024 and seeks to simplify the process of transferring crypto assets for institutional investors. Zodia Custody aims to enhance end-to-end service capabilities for these investors by providing a secure and reliable solution.
Off-Exchange Settlement Gains Popularity
Products that support off-exchange settlement have gained traction following challenges faced by major crypto businesses like FTX. Companies such as Bitget and Gate.io have already facilitated off-exchange trading and settlement by integrating with platforms like Copper’s ClearLoop. Zodia Custody’s Interchange Connect aims to further advance this trend and provide institutions with a secure and efficient means of conducting off-exchange transactions and settlements. Julian Sawyer, the CEO of Zodia Custody, emphasizes the collaborative nature of evolving the digital asset infrastructure.
Zodia Integrates Metaco’s Crypto Safekeeping
Zodia Custody has integrated Metaco network’s global crypto storage services to offer sub-custody services for cryptocurrencies. This integration allows Metaco to store client funds and provide means for managing them, including initiating transfers via a web interface. The partnership between Zodia Custody and Metaco aims to expand services and reach a wider audience by providing safekeeping and settlement of digital assets. Zodia Custody recently expanded its services in Hong Kong in response to institutional demand and has extended its presence in the institutional crypto custody space to Japan, Singapore, and Australia.
Hot Take: Zodia Custody Simplifies Crypto Transfers for Institutional Investors
Zodia Custody’s launch of the Interchange Connect product is a significant development in the crypto custody space. By creating a network that connects different institutional crypto accounts, Zodia Custody aims to simplify the process of transferring cryptocurrencies for institutional investors. This new offering provides a secure and reliable solution, enhancing end-to-end service capabilities. With the increasing popularity of off-exchange settlement, Zodia Custody’s product comes at an opportune time to meet the demand for efficient and secure off-exchange transactions and settlements. The integration of Metaco’s crypto storage services further expands Zodia Custody’s services and solidifies its presence in the institutional crypto custody market.
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