Zodia Custody Launches New Product to Facilitate Crypto Transfers and Trade Settlements for Institutional Investors

cryptonews.com:

Zodia Custody, a crypto custody firm backed by Standard Chartered, has announced the launch of a new product intended to facilitate seamless crypto transfers for institutional investors. 

Dubbed “Interchange Connect,” the offering aims to create a “network of networks” that connects different institutional crypto accounts, allowing for seamless transfer of cryptocurrencies and trade settlements across platforms such as Metaco, Fireblocks, and Copper’s ClearLoop.

Set to be available to customers in the first quarter of 2024, Interchange Connect aims to simplify the process for institutional investors who need to transfer crypto assets between various accounts. 

By providing a secure and reliable solution, Zodia Custody aims to enhance the end-to-end service capabilities for these investors.

“As the ecosystem evolves at speed, we move faster to provide comprehensive and global solutions for institutions,” Zodia Custody’s Chief Commercial Officer, James Harris, said. 

“Interchange Connect massively opens up the possibilities for institutions by connecting our own bank-grade infrastructure and unique custodial solutions to others, ensuring that institutions gain additional secure, reliable, and compliant end-to-end service capabilities.”

Following the challenges faced by major crypto businesses like FTX last year, products supporting off-exchange settlement have gained traction.

By integrating with platforms like Copper’s ClearLoop, companies such as Bitget and Gate.io have already facilitated off-exchange trading and settlement. 

Zodia Custody’s Interchange Connect aims to further advance this trend and provide institutions with a secure and efficient means of conducting off-exchange transactions and settlements.

J