Zodia Custody Forms Strategic Alliance with Parity Technologies to Enhance Institutional Access to Polkadot
Zodia Custody, a digital asset custodian supported by shareholders like Standard Chartered and SBI Holdings, has announced a strategic partnership with Parity Technologies. Parity, a software development company, played a key role in launching Polkadot and continues to contribute to its network. The collaboration aims to improve institutional access to the Polkadot ecosystem through joint research and development initiatives.
Enhancing Institutional Access and Compliance
Zodia Custody will provide custody services for the Polkadot ecosystem as part of this partnership. This move ensures secure market access and offers bank-grade digital asset custody services to financial institutions. Zodia Custody adheres to strict standards related to AML, FCC, and KYC, and is registered with regulatory bodies in the UK, Ireland, and Luxembourg.
Broadening Participation through Staking
The collaboration will also enable financial institutions to stake DOT, Polkadot’s native token, while their assets remain securely stored in Zodia Custody’s cold storage. This expands institutional participation in the Polkadot ecosystem and promotes a wider contribution to fortify the decentralized network.
Bridging the Gap between Traditional Finance and Digital Assets
Julian Sawyer, CEO of Zodia Custody, emphasizes the importance of partnerships like this one in bridging the gap between digital assets and traditional finance at scale. The collaboration with Parity is expected to foster future institutional participation and make Polkadot’s technology more institution-friendly. Björn Wagner, CEO of Parity Technologies, sees this partnership as a win-win opportunity for financial institutions and the Polkadot ecosystem.
Long-Term Growth and Education
Beyond immediate implementations, the collaboration between Zodia Custody and Parity will support the sustained evolution of the Polkadot ecosystem. This includes collaborative research and development to educate institutions about Polkadot technology. Zodia Custody will also champion global initiatives associated with Parity and Polkadot.
Hot Take: Zodia Custody and Parity Technologies Join Forces to Boost Institutional Access to Polkadot
Zodia Custody’s strategic alliance with Parity Technologies is set to enhance institutional access to the innovative Polkadot ecosystem. By providing custody services and enabling staking of DOT, Zodia Custody empowers financial institutions to securely participate in the decentralized network. This collaboration bridges the gap between traditional finance and digital assets, fostering future institutional involvement and making Polkadot’s technology more institution-friendly. Through joint research and development initiatives, this partnership also supports the long-term growth of the Polkadot ecosystem while educating institutions about its potential.
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