Zodia, Standard Chartered’s UK-based institutional crypto-asset custody firm, announced it has integrated with the Fireblocks’ Network. The integration means that Zodia now connects to more than 1,000 liquidity providers, 35 exchanges, lending platforms and other counterparties.
While Fireblocks was first known for its digital asset custody technology, it expanded its services, and the purpose of the Zodia integration is to access liquidity for Zodia’s clients.Fireblocks has raised more than $1 billion in venture funding.
In late 2020 Standard Chartered unveiled Zodia, with Northern Trust as a partner. Seven months later, it received approval from the UK’s Financial Conduct Authority and registered with FinCEN in the United States.
“Zodia Custody is in a league of its own when it comes to client connectivity,” said Maxime de Guillebon, CEO at Zodia Custody. He continued that it “presents a fantastic milestone in our goal to provide a total service proposition that meets the entire needs of our customer base.”
Before unveiling Zodia in mid-2020, Standard Chartered invested in Swiss custody technology firm Metaco. Asked if this technology underpins the Zodia platform, the company declined to comment. Standard Chartered’s and Northern Trust’s logos appeared on Metaco’s home page until February 2022.
“The integration of the Fireblocks Network into the Zodia Custody platform is an innovation developed by Zodia Custody and Fireblocks only, no other third parties were involved in this build,” said a spokesperson.
Zodia was one of the first mainstream banks to engage in the sector actively and that adoption continues apace. Nomura recently announced the creation of a digital asset subsidiary, and it’s been involved in crypto custody for some time through the joint venture Komainu. Commerzbank has applied for a crypto custody license. At the recent ISDA derivatives AGM, crypto featured front and center.
