Zodia Custody Announces Strategic Partnership with Maple Finance

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Zodia Custody, the crypto firm co-owned by British banking giant Standard Chartered, has announced a strategic partnership with Maple Finance, a crypto lending platform.

According to a press release, Maple Finance will be using Zodia Custody as its main custodian for global lending agreements. This marks a big advancement in combining traditional finance with decentralized finance.

The partnership is Set to Go Live in Q3 2024

Notably, the partnership is set to go live by early Q3 of this year, with both companies expressing enthusiasm about the potential benefits this integration will bring to the market. Meanwhile, the companies mentioned that Maple Finance’s pledged collateral will be held securely by Zodia Custody. This setup may allow customers to access the value of their digital assets within the Zodia ecosystem.

This means Maple Finance aims to leverage Zodia Custody’s infrastructure to enhance the security and reliability of its lending service. Additionally, the collaboration will allow Zodia Custody wallets to back the Maple token. This step, as per the crypto custodian, will meet the demand for market players to optimize profits in non-traditional value repositories.

As the integration between Zodia Custody and Maple Finance goes live, the collaboration is expected to set a new standard for security and compliance in the Decentralized Finance (DeFi) lending space. 

NAB Invest in Zodia Custody 

Last month, the National Australia Bank’s venture capital arm, NAB Ventures made an undisclosed investment in Zodia Custody. According to the announcement, this investment underscores NAB Ventures’ confidence in Zodia’s innovative approach, robust institutional-grade safety measures, and proactive collaboration with regulators.

Undoubtedly, Zodia’s strong engagement with regulators is a crucial factor that attracted NAB Ventures. Meanwhile, the next step includes bringing Australia’s distinct group of locally established digital exchanges on board. Many of them are transferring assets to the Zodia platform in anticipation of more stringent regulatory demands to be enforced in 2025, as stated by Zodia. 

Zodia Custody Offer Yield to Investors

In 2022, the standard chartered crypto custody startup started giving its clients a yield on their crypto deposits. This idea was conceived back in 2020. The yield products come in the form of collateral asset management that exceptionally favors high-net-worth investors.

Recall that in October 2023, the digital asset custodian registered with the Federal Financial Authority (FCA) and launched services in Hong Kong.

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