Key Takeaways
- Zodia Custody and Parity Technologies partner to offer compliant custody and secure staking in the Polkadot ecosystem.
- Zodia Custody, backed by Standard Chartered, SBI Holdings, and Northern Trust, enhances institutional access to digital assets.
- The collaboration aims to facilitate institutional participation while ensuring regulatory compliance.
As the partnership era continues in the crypto-landscape, an interesting collaboration has emerged at the surface today. Zodia Custody and Parity Technologies, two eminent figures of technological innovation, have forged a partnership that will allow for seamless institutional access to the Polkadot ecosystem. Through this partnership, the two platforms aim to offer users compliant custody along with secure staking. Let’s dive into the intricacies of this collaboration.
The Integration
Zodia Custody is a leading institution-first digital asset custodian. The firm’s shareholders include Standard Chartered, SBI Holding, and Northern Trust. The platform empowers institutional investors worldwide to fully embrace the potential of the digital asset landscape, ensuring simplicity, security, and unwavering commitment. By seamlessly integrating cutting-edge technology, custody services, governance, and compliance measures, Zodia Custody adeptly meets the intricate requirements of institutional investors.
Julian Sawyer, CEO of Zodia Custody, commented on the collaboration,
“The gap between the world of digital assets and traditional finance is coming together, but strategic partnerships such as this one will help bridge that gap at scale,” said Julian Sawyer, CEO of Zodia Custody. “This partnership with Parity is essential to the future of this ecosystem by enabling future institutional participation. Together, we’re making Polkadot’s technology more accessible for institutions while also bringing all the regulatory, governance, and security expertise we have as a bank-owned and registered entity.”
Announcement
With this partnership, Zodia Custody will be providing custody services to the Pokadot ecosystem and will enable secure market access and bank-grade digital asset custody services for financial institutions. Zodia Custody is registered with the UK’s FCA, Ireland’s CBI, and Luxembourg’s CSSF and compiles ith each jurisdiction’s money laundering requirements. The platform ensures that all regulatory compliances are followed thoroughly.
In the next stage of the partnership, assets will be held safely in cold storage within Zodia Custory, and financial institutions will be able to stake DOT, the native token of Polkadot. Thereby, the reach of participation in the Polkadot ecosystem to institutions will increase.
While the partnership seems to hold interesting potential, the outcomes are yet to be seen. Let’s see how it turns out for users globally and if the expected potential is reached.
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