Zodia Custody and Maple Finance Form Strategic Partnership
By CoinChapter.com
Zodia Custody, a digital asset custodian, has recently announced a collaboration with Maple Finance. Backed by prominent institutions such as Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, Zodia Custody will serve as the preferred custodian for global lending arrangements.
The primary objective of this partnership is to enhance security and compliance in institutional digital asset management. Maple Finance, known for its resilience during the market turmoil of 2022 and the collapse of FTX, is one of the few crypto lending platforms to withstand such challenges.
With its strong institutional affiliations, Zodia Custody is making a significant entry into the world of crypto lending, bridging the gap between traditional finance and the digital asset space.
The collaboration between Zodia Custody and Maple Finance aims to strengthen collateral security for institutional investors. Zodia Custody will act as the preferred custodian for collateral pledged to Maple Finance, ensuring the safety of digital assets. This arrangement allows institutions to maximize returns while adhering to compliance and risk management standards.
Additionally, Zodia Custody wallets will support the Maple token, adding value to the ecosystem. Ryan O’Shea, COO of Maple Finance, expressed their commitment to develop the necessary infrastructure and lending solutions for institutions. This will enable more assets to be brought on-chain, providing enhanced security, options, and transparency.
The partnership between Zodia Custody and Maple Finance builds upon Zodia Custody’s previous collaboration with Singapore-based OpenEden in 2023. The integration with Maple Finance is expected to go live in early Q3, presenting customers with new opportunities to connect with trusted partners and maximize returns on digital assets.
The announcement of this partnership has been well-received by traders. Standard Chartered, one of the backers of Zodia Custody, plans to enter the crypto spot trading market in the near future. Leveraging Zodia Custody and Zodia Markets, its exchange arm, the London-based trading desk will focus on cryptocurrencies like Bitcoin and Ether. This move positions Standard Chartered as one of the first global banks to explore the crypto sector, potentially encouraging other financial institutions to follow suit and promote liquidity and market efficiency in the crypto space.
The collaboration between Zodia Custody and Maple Finance exemplifies the growing maturity of the digital asset ecosystem. It highlights the importance of regulatory compliance, risk management, and innovative solutions in driving its development.