Zodia Custody, a cryptocurrency custody service backed by Normal Chartered, SBI Holdings, Northern Belief and Nationwide Australia Financial institution, has entered right into a partnership with crypto lending specialist Maple Finance, the businesses introduced on Tuesday. Underneath the settlement, the collateral transferred to Maple Finance will likely be securely held by Zodia Custody, permitting its shoppers to learn from their digital belongings whereas remaining inside the Zodia Custody ecosystem.
Maple was one of many few crypto lending platforms protected and dependable sufficient to resist the storms of 2022 and the FTX collapse. Now a platform like Zodia Custody, with its banking and institutional associates, is shifting nearer to crypto lending. Zodia’s transfer builds on a partnership with Singapore-based OpenEden introduced in 2023.
In the meantime, Zodia backer Normal Chartered plans to launch spot cryptocurrency buying and selling within the coming months. The mixing of Zodia Custody and Maple Finance is deliberate for the start of the third quarter, the businesses stated in a press release.
Picture: World Finance Journal
