Zodia Custody Joins Forces with Crypto Lender Maple Finance Read CoinChapter.com on Google News

NAIROBI (CoinChapter.com) — On July 9, 2024, Zodia Custody, a digital asset custodian, announced a partnership with Maple Finance. Supported by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, this collaboration designates Zodia Custody as the preferred custodian for global lending arrangements.

The partnership aims to enhance security and compliance for institutional digital asset management.

Maple Finance announced the partnership. Source: Maple Finance

Maple Finance, one of the few crypto lending platforms to weather the 2022 market turmoil and the collapse of FTX, exemplifies resilience.

Moreover, Zodia Custody, with its institutional affiliations, is making a significant move into crypto lending, further bridging the gap between traditional finance and the digital asset space.

Secure Collateral Management Enhances Institutional Adoption

Zodia Custody will act as the preferred custodian for collateral pledged to Maple Finance, ensuring the security of digital assets. This arrangement allows institutions to maximize returns while maintaining compliance and risk management standards.

The integration will also see Zodia Custody wallets support the Maple token, enhancing the ecosystem’s value proposition.

Ryan O’Shea, Maple Finance’s COO, stated that they are advancing infrastructure and developing the borrowing and lending solutions required by institutions. This will bring more assets on-chain with enhanced security, options, and transparency.

Expanding Yield Opportunities and Future Integrations

This collaboration builds on Zodia Custody’s 2023 partnership with Singapore-based OpenEden. Furthermore, the integration with Maple Finance is set to go live by early Q3, offering customers new opportunities to connect with vetted partners and maximize returns on digital assets.

Traders welcomed the partnership news.

Standard Chartered plans to enter the crypto spot trading market in the coming months, leveraging Zodia Custody and Zodia Markets, its exchange arm. The trading desk, based in London, will operate within Standard Chartered’s FX trading unit and focus on cryptocurrencies like Bitcoin and Ether.

Significantly, Standard Chartered’s venture into spot trading marks a pivotal move, positioning it as one of the first global banks to explore this sector. Consequently, the initiative could pave the way for other financial institutions to follow, potentially increasing liquidity and market efficiency in the crypto space.

Ultimately, the Zodia Custody and Maple Finance partnership exemplifies the maturation of the digital asset ecosystem, driven by regulatory compliance, risk management, and innovative solutions.

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