Zodia Custody announces “network of networks” featuring Ripple’s Metaco, Fireblocks, Copper
“This is another exciting step on the road to fulfilling our mission of providing the best solutions for institutions around the world looking to harness the opportunities digital assets bring.”
Zodia Custody, backed by Standard Chartered, SBI Holdings, and Northern Trust, has announced the launch of Interchange Connect. This new initiative positions Zodia as a highly connected digital asset custodian for institutions globally.
Interchange Connect, described as a ‘network of networks’, integrates various institutional-focused digital asset custody solutions. Set to launch in Q1 2024, it initially features integrations with Metaco, Fireblocks, and Copper’s ClearLoop network.
Reducing counterparty risk and offering off-exchange settlement
This network aims to simplify the management of digital assets for institutional clients. It promises seamless and secure transfers across trading accounts and bank-grade security. By reducing counterparty risk and offering off-exchange settlement, it enhances the safety of digital asset transactions.
James Harris, Chief Commercial Officer at Zodia Custody, said: “As the ecosystem evolves at speed, we move faster to provide comprehensive and global solutions for institutions. Interchange Connect massively opens up the possibilities for institutions by connecting our own bank-grade infrastructure and unique custodial solutions to others, ensuring that institutions gain additional secure, reliable and compliant end-to-end service capabilities.”
Julian Sawyer, CEO, Zodia Custody, commented: “No one party will be solely able to evolve the infrastructure underpinning the digital asset ecosystem — but together, we can provide the tools and services to bring digital assets into the mainstream. Through the comprehensive integrations offered by Interchange Connect, we are helping to push the ecosystem forward, ensuring institutions have access to secure custody options, without the need for operational headaches. This is another exciting step on the road to fulfilling our mission of providing the best solutions for institutions around the world looking to harness the opportunities digital assets bring.”
Security, risk management, and solvency protection
The launch of Interchange Connect represents a significant step in reducing the complexity of managing digital assets. It aims to be a one-stop solution for all digital asset holdings, reducing the need for multiple accounts and networks.
The network further enhances the security, risk management, and solvency protection for institutions trading digital assets. Zodia Custody’s Interchange solution is a key component of this offering.
Zodia Custody is positioned as a leading institution-first digital asset custodian. It focuses on meeting the complex needs of institutional investors through technology, custody, governance, and compliance.
As a regulated entity, Zodia Custody adheres to various international standards and regulations. These include the 5AMLD and FATF Travel Rule, along with AML, FCC, and KYC standards aligned with Standard Chartered.