Backed by banking giant Standard Chartered, Zodia Custody has joined the cryptocurrency custody network of Switzerland-based Metaco, which is owned by Ripple.
Financial giants around the world came together to provide more secure and functional cryptocurrency custody services. by companies 4 December Monday Supported by Standard Chartered, in a joint announcement on Zodia Custody owned by Ripple Metaco It was stated that he joined the network designed to provide storage and reconciliation of cryptocurrencies.
In the said statement, based on the collaborations provided, “bottom storageThe benefits of the services for the sector were emphasized. CEO of Zodia Custody Julian Sawyer In his statement on the subject, metaco While pointing out the importance of partnership with the sub-custodial system, “where more than one depository institution is connected to each other”third generation crypto custody” he defined it as.
Continuing his statement, Sawyer detailed the cryptocurrency storage service offered by companies with the following example:
For example, a customer in Brazil may want to store their assets in the UK. So you can use us as a sub-custodian and get our regulatory permissions etc. They can use it. I think the multiple networks available in the market are really key to connecting custodians together and connecting custodians to exchanges and platforms in a harmonious way.
Zodia Custody UK Financial Services Authority (FCA) There is a record.
Cryptocurrency exchange especially in 2022 FTX With its bankruptcy, trust in third-party cryptocurrency custody services has decreased. This situation has led to companies such as Metaco, which offer much more secure and decentralized custody services, to come to the fore.
Recently Metaco and HSBC The partnership created between Ripple created excitement on the Ripple front.