Zodia Custody, backed by Standard Chartered Bank, has partnered with Metaco’s crypto storage services to improve global sub-custody for cryptocurrencies. This collaboration is the third generation in crypto custody, linking multiple custodians to ensure secure and compliant digital asset management.
The integration of Metaco’s services into Zodia Custody is an important step towards addressing the trust and transparency issues present in the crypto industry. This move also aligns with broader industry trends, such as HSBC’s plans to launch a custody service in 2024, in partnership with Metaco.
CEO Julian Sawyer highlighted the evolution of crypto-custody into a third-generation, in which multiple custodians interconnect with each other. Zodia Custody’s integration of Metaco’s services is designed to offer global sub-custody services for cryptocurrencies, enabling Metaco to store client funds securely and facilitate efficient fund management. This collaboration is in response to the growing demand for safe digital asset storage.
The strategic move to improve global sub-custody for cryptocurrencies is part of Zodia’s expansion, which recently extended its services to Hong Kong in response to an increasing demand from institutions. Metaco, a Swiss firm now owned by Ripple following a $250 million acquisition earlier this year, is leveraging Ripple’s scale and market strength to reach more clients.
