Standard Chartered-backed Zodia Custody adds support for Deribit
Crypto custodian Zodia Custody has teamed up with crypto exchange Deribit, enabling institutional clients to access market derivatives liquidity while retaining their assets in segregated cold wallets.
Zodia Custody, a crypto custody provider backed by Standard Chartered, has unveiled a partnership agreement with crypto options exchange Deribit in a push to expand the list of its Interchange network members.
In a July 30 announcement, Zodia said that under the agreement, it would integrate Deribit into its Interchange network, an off-venue settlement solution for institutional and high-volume traders. Zodia Custody’s chief commercial officer James Harris said in the announcement that the collaboration opens a “distinct market advantage” for its clients as the Interchange network “enables seamless trading while keeping assets secure.”
The latest partnership comes just a month after Zodia secured funding from Australia’s largest bank, bolstering its position in the institutional digital asset custody sector.
As crypto.news reported earlier, the custodian raised fresh capital from NAB Ventures, the venture capital arm of National Australia Bank, one of the largest financial institutions in Australia.
With the bank’s support, Zodia Custody is now backed by four major financial institutions worldwide, adding to previous investments from Standard Chartered, Northern Trust and SBI Holdings. According to the funding round news, the custodian plans to use the new capital to accelerate its efforts in Australia, particularly in onboarding local digital asset exchanges amid anticipated regulatory changes by 2025.
