Standard

Northern

James

Zodia Custody, a digital asset custodian backed by key shareholders like Standard Chartered, SBI Holdings, and Northern Trust, has made significant strides in its institutional-first approach. 
The company recently integrated with Metaco, a digital asset infrastructure technology provider under Ripple’s umbrella, to establish a comprehensive global network catering specifically to institutions. 
This integration marks an expansion of a long-standing strategic collaboration between Zodia Custody and Metaco, aimed at fortifying service capabilities for institutional investors. 
By offering bank-grade custody solutions through the Metaco platform, Zodia Custody seeks to provide enhanced security, reliability, and compliance in the realm of digital asset services. 
The joint efforts between these companies are focused on bolstering digital asset infrastructure, particularly by strengthening connectivity to the foundational Layers 0 and 1 blockchains. This move aims to construct a robust settlement network founded on distributed ledgers, promising secure and streamlined transactions. 
Institutions connected to the Metaco network will also gain access to Zodia Custody’s Interchange offering, an addition ensuring an extra layer of security, risk management, and solvency protection. 
Notably, according to Metaco, its institutional clients comprising premier banks and financial institutions worldwide, will leverage this network’s interoperability standards to govern interactions with diverse service providers. This opens avenues for executing digital asset strategies across jurisdictions and asset classes. 
Nevertheless, the collaboration isn’t one-sided; institutions leveraging Zodia Custody’s Interchange, including prominent entities like Bitfinex, LMAX Digital, and CoinShares, will also harness Metaco’s solutions, facilitating an interconnected landscape for digital asset operations. 
The company plans to launch its own network in Q4 2023, further expanding its connectivity. 
The collaboration reaffirms Zodia Custody’s commitment to ensuring the safety of client assets, both at rest and in transit, across their Interchange network. It includes trades connected to exchanges, assets in transit to institutions adhering to KYC and AML practices, and assets utilized as collateral in protocols to meet regulatory standards. 
It is worth noting that Standard Chartered’s SC Ventures and SBI Holdings have recently unveiled a pioneering $100 million Digital Asset Joint Venture in the UAE, signaling the country’s increasing prominence in fintech and digital assets globally. 
The collaboration aims to invest in a broad spectrum of digital asset initiatives encompassing infrastructure, DeFi, compliance tools, and the Metaverse. 
Leveraging SC Ventures’ track record in digital assets, like Zodia Custody, and SBI Holdings’ history in SC Ventures’ portfolio companies, the venture plans strategic investments across various funding stages. 
The joint venture reflects the evolving landscape and growing interest in digital assets, utilizing the UAE’s regulatory environment and infrastructure. This initiative, supported by DIFC, signifies a pivotal step towards shaping the future of finance. 
On another note, Zodia Markets has also recently secured an In-Principle Approval from Abu Dhabi Global Market (ADGM) to operate as a cryptocurrency broker-dealer within the UAE’s over-the-counter (OTC) market. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/113465/zodia-custody-joins-metaco-network-integration/">Zodia Custody Joins Metaco Network Integration</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Zodia Custody Joins Metaco Network Integration

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