The digital asset custodian is collaborating with the enterprise technology company to create an institutional network globally. The integration also provides greater access to Zodia Custody’s leading Interchange solution for institutions.
Zodia Custody, a leading institution-first digital asset custodian whose shareholders include Standard Chartered, SBI Holdings and Northern Trust, has integrated with Metaco, the Ripple-owned provider of digital asset infrastructure technology, to create a global network for institutions. The integration enables institutions to access Zodia Custody’s bank-grade custody solutions through Metaco.
The expanded collaboration between the two companies follows a longstanding strategic relationship and is designed to further build out networked options for institutional investors, enabling them to gain additional secure, reliable and compliant end-to-end digital asset service capabilities. It also strengthens global digital asset infrastructure by improving connectivity to the foundational Layers 0 and 1 blockchains – creating a robust settlement network built on distributed ledgers.
Institutions connected to the Metaco network, where sub-custody networks serve as a foundational, initial use case, can also benefit from Zodia Custody’s Interchange offering, providing them with an added layer of security, risk management and solvency protection. In particular, Metaco’s institutional clients — including some of the world’s premier banks and financial institutions — are able to leverage the network’s interoperability standards to access and govern interactions with various value-added service providers, allowing for better choice in how they execute their digital asset strategy across jurisdictions and asset classes. The integration also allows institutions using Zodia Custody’s Interchange — such as Bitfinex, LMAX Digital, and CoinShares — to leverage Metaco’s solutions.
The collaboration is part of Zodia Custody’s plan to ensure it is the most connected custodian in the digital asset ecosystem. This includes further plans to develop and launch its own network in Q4 2023.
“Combining our forces on this institutional network for digital asset flows, spanning sub-custody, trading use cases, and beyond, is an important step on the way to building truly rigorous digital asset infrastructure, globally,” said James Harris, Chief Commercial Officer, Zodia Custody.
“We are focused on expanding the options available to our clients via our financial network, thus ensuring Zodia Custody can become a truly comprehensive digital asset solutions provider. We want to ensure that any institutional investor can seamlessly trade, without compromise — this is another significant step on that journey.”
The partnership reinforces Zodia Custody’s commitment to keeping client assets safe both at rest and in transit across the Interchange network. This includes trades connected to exchanges, assets being transferred to institutions aligned on KYC and AML practices, and assets being used as collateral in protocols to meet regulatory requirements.
“As the industry undergoes a pivotal transformation, our networked infrastructure is dedicated to standardise, govern and connect institutional digital asset flows — an essential step in forging use cases that transcend individual companies,” said Adrien Treccani, Founder and CEO of Metaco.
“We are committed to providing interoperable, open infrastructure that enables institutions to create innovative, value-added services, thereby establishing the benchmark for the future of digital asset ecosystems.”
Note: Metaco was acquired by Ripple in May 2023