Zodia unites with Fireblocks Network to increase liquidity for clients

Zodia unites with Fireblocks Network to increase liquidity for clients

Zodia Custody, Standard Chartered’s crypto-asset custodian firm, has recently integrated with the Fireblocks Network, a platform that transfers and settles digital assets. With this integration, Zodia will now be able to connect to more than 1,000 liquidity providers, lending firms, 35 exchanges, and several other counterparties.

The purpose behind Zodia’s integration with Fireblocks is to access liquidity for the former’s clients.

At the end of 2020, Standard Chartered introduced Zodia, with Northern Trust as a partner. After seven months of its launch, Zodia received approval from the United Kingdom’s Financial Conduct Authority and registered with FinCEN in the US. 

Zodia Custody’s CEO Maxime de Guillebon, said that their firm is a leader in client connectivity. He further said that the custodian firm presents a fantastic milestone in the company’s goal to offer a total service proposition that fulfills the entire needs of their customer base.

Stephen Richardson, VP of Business Solutions and Product Strategy at Fireblocks, said that the company is thrilled to extend its services to Zodia Custody. Fireblocks develop a technology that allows its customers to securely access their digital assets.

Now, Zodia Custody will also be able to offer the ability to trade across numerous liquidity pools and distribute capital across a fragmented market with the help of Fireblocks Network, said Mr. Richardson.

Before launching Zodia in 2020, Standard Chartered invested in Metaco, a Swiss custody technology firm. However, when Standard Charted asked if Metaco underpins Zodia platform, the company denied to the comment.

As a result, Standard Chartered’s and Northern Trust’s logos appeared on Swiss custodian Metaco’s page only till February 2022.

A credible source said that the integration of Fireblocks network with Zodia Custody is an innovation developed by both the firms only, no third party was involved in this amalgamation.

Source Credit: https://www.ledgerinsights.com/stan-charts-crypto-custodian-zodia-integrates-with-fireblocks-network/