Teaming up with OpenEden, Zodia Custody is set to bridge the divide between crypto asset custody and real-world yield opportunities. This partnership will also extend access to staking services for institutional players. OpenEden, an innovative startup, specializes in the integration of real-world assets into blockchain platforms.
Earlier, Zodia Custody unveiled its commitment to support the Polkadot blockchain through a strategic alliance with Parity Technologies, a leading developer within the Polkadot network. Their joint mission is to offer custody services tailored to the Polkadot ecosystem, providing digital asset storage solutions for financial institutions. Moreover, the collaboration will encompass the staking of DOT, the native token of Polkadot, to promote institutional involvement within the network.
Zodia Custody functions as a subsidiary of Standard Chartered, a prominent British bank renowned for its strong presence in emerging markets spanning Asia, Africa, and the Middle East. Launched in 2021 in partnership with Northern Trust, Zodia symbolizes the growing enthusiasm of major institutions in embracing digital currencies. SBI Digital Asset Holdings, the cryptocurrency arm of Japanese bank SBI, also holds a stake in Zodia. This partnership spurred SBI’s foray into the custody business in Japan.
In a recent development, Zodia Custody has expanded its operations to Singapore, tapping into the thriving digital asset market within the country. This achievement solidifies Zodia Custody’s status as the pioneer entity owned by and collaborating with banks to deliver digital asset custody services to financial institutions in Singapore, as highlighted in their official press release.