Zodia Custody and Maple Finance Team Up to Revolutionize Digital Asset Management
By CoinChapter.com
Published on Google News
NAIROBI – In a groundbreaking move, Zodia Custody, a trusted digital asset custodian, has announced its partnership with Maple Finance. With the backing of renowned institutions such as Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, this collaboration appoints Zodia Custody as the preferred custody solution for global lending arrangements.
The primary objective of this partnership is to enhance security and compliance in institutional digital asset management. Maple Finance, a resilient crypto lending platform that successfully navigated the market turmoil of 2022 and the collapse of FTX, has emerged as a key player in the industry.
Furthermore, Zodia Custody’s involvement in crypto lending, combined with its institutional affiliations, serves as a bridge between traditional finance and the digital asset space.
The integration of Zodia Custody as the preferred custodian for collateral pledged to Maple Finance ensures the utmost security of digital assets. Institutions can now maximize their returns while adhering to stringent compliance and risk management standards.
Additionally, Zodia Custody wallets will support the Maple token, adding value to the ecosystem. Ryan O’Shea, the COO of Maple Finance, expressed their commitment to developing infrastructure and solutions for borrowing and lending, aiming to bring more assets on-chain with improved security, options, and transparency.
This partnership expands on Zodia Custody’s previous collaboration with OpenEden in 2023. The integration with Maple Finance is expected to go live in early Q3, offering customers new opportunities to connect with trusted partners and optimize their returns on digital assets.
The announcement of this partnership has been well-received by traders. Standard Chartered, a global banking giant, has plans to enter the crypto spot trading market in the near future. Leveraging Zodia Custody and its exchange arm, Zodia Markets, Standard Chartered’s trading desk in London will focus on cryptocurrencies like Bitcoin and Ether. This move positions Standard Chartered as one of the pioneers among global banks exploring the crypto sector. It could potentially encourage other financial institutions to follow suit, leading to increased liquidity and market efficiency in the crypto space.
In conclusion, the collaboration between Zodia Custody and Maple Finance marks a significant milestone in the maturation of the digital asset ecosystem. With a strong emphasis on regulatory compliance, risk management, and innovative solutions, this partnership sets the stage for the future of digital asset management.