Zodia Custody, a prominent provider of crypto custody services, has announced a strategic collaboration with Maple Finance, a specialist in crypto lending. This partnership aims to enhance Zodia Custody’s secure custody services while offering clients opportunities to generate value from their cryptocurrency holdings. Supported by major financial institutions including Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, Zodia Custody is poised to make a significant impact in the crypto-based lending arena.
Why Partner with Maple Finance?
Maple Finance has proven its robustness despite adverse market conditions and the collapse of FTX in 2022, which influenced Zodia Custody’s decision to partner with them. This collaboration not only enhances Zodia Custody’s services but also fortifies its market position, thereby setting a new standard in the crypto custody and lending sectors.
Leveraging existing partnerships, Zodia Custody is making strides into the realm of crypto lending. In 2023, the company partnered with Singapore-based OpenEden, aligning with Standard Chartered’s strategy to venture into cryptocurrency spot trading. This move represents a broader plan to penetrate various segments of the cryptocurrency market.
When Will Integration Happen?
The integration of Zodia Custody with Maple Finance is scheduled for early in the third quarter. This timeline reflects the companies’ intent to capitalize on current market conditions and provide enhanced services to their clients swiftly. Clients will benefit from more flexible use of their cryptocurrencies while continuing to enjoy Zodia’s reliable custody services.
Key Takeaways for Clients
Clients and investors should note the following critical points:
- Enhanced security and risk management for cryptocurrency assets.
- Increased flexibility in using crypto holdings without unnecessary risks.
- Access to combined benefits of secure custody and robust lending services.
- Strategic alignment with leading financial institutions.
Zodia Custody ensures the secure holding of collateral, allowing clients to use their assets without exposing them to unnecessary risks. Security and risk management are paramount in the volatile world of cryptocurrencies, and Zodia’s feature ensures clients can securely store and use their cryptocurrencies.
The partnership between Zodia Custody and Maple Finance marks a strategic move to combine secure custody services with robust lending capabilities. This collaboration underscores the growing trend of traditional financial institutions integrating with the crypto market to offer more comprehensive and secure solutions to clients.