Zodia Custody and Maple Finance Collaborate to Enhance Digital Asset Management
Zodia Custody, a leading digital asset custodian, has recently announced its partnership with Maple Finance. This collaboration, supported by reputable institutions such as Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, aims to strengthen security and compliance in institutional digital asset management.
Maple Finance, known for its resilience in weathering the market turmoil of 2022 and the collapse of FTX, is one of the few crypto lending platforms that has stood the test of time. On the other hand, Zodia Custody, with its strong institutional affiliations, is making a significant foray into crypto lending, bridging the gap between traditional finance and the digital asset space.
The partnership between Zodia Custody and Maple Finance will ensure the security of digital assets by designating Zodia Custody as the preferred custodian for collateral pledged to Maple Finance. This arrangement allows institutions to maximize their returns while adhering to compliance and risk management standards.
Additionally, Zodia Custody wallets will now support the Maple token, thereby enhancing the value proposition of the ecosystem. Ryan O’Shea, the COO of Maple Finance, expressed that this collaboration will enable the development of borrowing and lending solutions needed by institutions, bringing more assets on-chain with improved security, options, and transparency.
This partnership builds upon Zodia Custody’s previous collaboration with OpenEden, a Singapore-based company. The integration with Maple Finance is expected to go live in early Q3, offering customers new opportunities to connect with trusted partners and maximize their returns on digital assets.
The announcement of this partnership has been well-received by traders. In fact, Standard Chartered, a global bank, is planning to enter the crypto spot trading market in the near future, leveraging Zodia Custody and Zodia Markets, its exchange arm. This move positions Standard Chartered as one of the first major banks to explore this sector, potentially paving the way for other financial institutions to follow suit and increasing liquidity and market efficiency in the crypto space.
Ultimately, the collaboration between Zodia Custody and Maple Finance signifies the maturation of the digital asset ecosystem, driven by regulatory compliance, risk management, and innovative solutions.