As an experienced analyst with a deep understanding of the cryptocurrency market and its players, I find this partnership between Zodia Custody and Maple Finance intriguing. Zodia Custody’s decision to integrate with Maple Finance speaks volumes about the growing acceptance of crypto lending within traditional financial structures.
Zodia Custody, the cryptocurrency safekeeping service backed by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, has partnered with crypto lending specialist Maple Finance, the companies said on Tuesday.
According to a press release, under the arrangement, Zodia Custody will safeguard collateral given to Maple Finance. This means Maple Finance clients can access the value of their digital assets while staying within the Zodia Custody platform.
Maple stood out among crypto lending platforms in 2022 for its safety and resilience during the turbulent times that included the downfall of FTX. Now, it’s intriguing to observe Zodia Custody, with its banking and institutional connections, venturing into the realm of crypto lending.
Zodia’s latest action expands upon its collaboration with OpenEden based in Singapore, an alliance that was revealed in 2023. Additionally, one of Zodia’s investors, Standard Chartered, intends to begin dealing in crypto spot trading within the upcoming months.
As a researcher, I’ve uncovered some exciting news regarding the upcoming integration between Zodia Custody and Maple Finance. According to a recent statement released by both parties, they aim to launch this collaboration by the beginning of Q3.
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2024-07-09 12:22