Zodia Custody Partners with Metaco for Global Crypto Custody Solutions

Zodia Custody, a bitcoin storage solution supported by Standard Chartered, has made a big announcement about integrating with the Metaco network. With the worldwide environment of cryptocurrency storage and settlement networks constantly changing, our partnership seeks to improve the safeguarding and settlement of digital assets for institutions throughout the world.

The growing popularity of cryptocurrency storage and settlement networks can be attributed to the need to reduce counterparty risk, particularly in the wake of recent sector upheavals. Julian Sawyer, CEO of Zodia Custody, observes that several network models are evolving as this infrastructure component changes to conform to conventional banking norms.

The Copper Clear Loop system, which recently merged with BitGo’s Go network, is one prominent example. Similarly, Fireblocks and other self-custody off-exchange platforms are helping to diversify the crypto custody options. Zodia Custody functions within the framework of an Interchange network.

The Third Generation of Crypto Custody

According to Sawyer, this integration represents the third generation of interconnected custodians and a significant turning point in the development of crypto custody. He emphasizes the value of global sub-custody, a phrase used in banking to describe the arrangement wherein an organization assigns another custodian to retain assets on its behalf.

Sawyer explains, “I think the multiple networks that are out there are really key in terms of linking custodians together, and linking custodians to exchanges and venues in a compliant manner.”

Currently registered in Luxembourg, the United Kingdom, and Ireland, Zodia Custody has now spread to Singapore. This calculated action is in line with the business’s objective to offer complete and legal crypto custody solutions to a worldwide clientele. Furthermore, Zodia Markets, an additional organization supported by Standard Chartered, was recently granted authority to function as an over-the-counter (OTC) cryptocurrency broker-dealer in Abu Dhabi.

Zodia Custody’s integration with Metaco represents a wider industry trend towards linked custodial solutions, enabling a more secure and internationally accessible environment for institutional digital asset management as it continues to traverse the ever-changing crypto world.