Ripple-Owned Metaco Integrates With Institutional Custody Firm Backed by Standard Chartered
Ripple Labs’ subsidiary, Metaco, is partnering with Zodia Custody, a London-based crypto custodian firm backed by financial services giant Standard Chartered. The collaboration aims to establish a global network for institutional investors.
Enhancing Institutional Access to Custody Solutions
The integration between Metaco and Zodia Custody allows institutions to access Zodia’s bank-grade custody solutions through Metaco. This partnership expands the existing strategic relationship between the two companies and provides secure, reliable, and compliant end-to-end digital asset service capabilities for institutional investors.
Advancing Global Digital Asset Infrastructure
The integration strengthens global digital asset infrastructure by improving connectivity to the foundational Layers 0 and 1 blockchains. This development creates a robust settlement network built on distributed ledgers.
Access to Institutional-Grade Security and Risk Management
The integration aims to grant blue-chip firms access to Zodia’s Interchange product, which offers institutional-grade security, solvency protection, and risk management. This ensures enhanced security measures for clients in their digital asset transactions.
Empowering Institutions with Interoperable Infrastructure
Metaco’s institutional clients, including premier banks and financial institutions, can leverage the network’s interoperability standards. This enables them to access and govern interactions with various value-added service providers, expanding their choices in executing digital asset strategies across jurisdictions and asset classes.
Zodia’s Future Plans
Zodia Custody plans to develop and launch its own network in 2024, further expanding its offerings in the digital asset space.
Acquisition of Metaco by Ripple
In May, Ripple acquired Metaco for $250 million in response to the growing interest of blue-chip firms in incorporating digital assets into their business models in the coming years.
Hot Take: Strengthening Institutional Adoption of Digital Assets
The integration between Ripple’s Metaco and Zodia Custody, backed by Standard Chartered, is a significant development for institutional investors. By providing access to bank-grade custody solutions and enhancing interoperability, this partnership promotes secure and reliable digital asset services. The collaboration also highlights the increasing interest of financial giants in the crypto space, as demonstrated by Standard Chartered’s support for Zodia Custody. As institutional adoption of digital assets continues to grow, partnerships like this contribute to building a robust infrastructure that meets the needs of traditional financial institutions.
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