Today Zodia Custody announced the launch of ‘Unified Wallets’ for digital asset custody, a mixture of identifiable client wallets managed in an omnibus manner. The firm was founded by Standard Chartered and counts Northern Trust, National Australia Bank and SBI as investors. Galaxy is the first client for the Unified Wallet solution.
“By combining the flexibility of omnibus wallets with the security of segregated assets, we are putting forward a compelling proposition, making us best placed to support clients like Galaxy in their efforts to optimise digital asset operations,” said Julian Sawyer, CEO of Zodia Custody.
“Through Unified Wallets, we offer unprecedented cost savings, streamlined operations, a comprehensive portfolio-management view and unparalleled security — helping to unlock asset management activity scalably and securely.”
Clients can deposit into unique identifiable wallets, but ‘Unified Wallets’ enable the collection of assets to be used for trading. Without a function such as this, tracking client deposits in a purely omnibus account would be painful.
Apart from Galaxy using the Unified Wallet, Zodia is also one of the custodians supporting Galaxy’s trading operations.
The two companies share a partner. Zodia provides digital asset custody to Deutsche Bank’s asset manager, DWS. Galaxy is also a DWS partner for both digital asset exchange traded products (ETPs) and ALLUnity, the European stablecoin initiative.
Apart from DWS, Zodia has signed up several new clients this year. They include Invesco, ETP issuer ETC Group and alternative fund manager 6 Monks amongst asset managers. Bitcoin miner Marathon Digital is also a new client.
