Zodia Custody integrates with Fireblocks
05 December 2023 UK
Image: alphaspirit/stock.adobe.com
Zodia Custody has integrated its custodian solution with digital asset operations management platform Fireblocks.
Through the Fireblocks Network, the digital asset custodian’s institutional clients will be able to access digital assets and transfer them across their accounts.
The network uses automated address authentication, which removes the need for counterparties to exchange deposit addresses when transferring assets and enables off-exchange settlement on trades.
Zodia Custody’s digital asset safeguarding platform, Interchange, will also be made available for financial institutions on the Fireblocks network. The platform mitigates counterparty risk exposure, and provides additional security, risk management and solvency protection during the trade of digital assets.
By integrating their offerings, the companies aim to create a ‘one-stop shop’ for financial institutions to manage their digital asset holdings. The partnership will remove the technical and operational complexity that comes from using multiple accounts on trading venues and exchanges, Zodia Custody states.
James Harris, chief commercial officer at Zodia Custody, says: “Connectivity is key in digital assets. In working with Fireblocks, we’re making digital assets more accessible and streamlined for institutions in need of a simplified solution to trade digital assets — without compromising security. Advancing and strengthening networks such as these are key for the future of this market.”
Richard Astle, vice president of Fireblocks Network at Fireblocks, comments: “In today’s markets, regulation and risk is at the forefront of client decision making. The Fireblocks Network has helped connect 1,800 of our clients to transfer trillions in digital assets directly between one another.
“Rather than creating isolated ecosystems, it’s important for technologies to interoperate and ensure digital market infrastructure can function efficiently and securely when transferring value, particularly for regulated institutions to enter the market.”
Through the Fireblocks Network, the digital asset custodian’s institutional clients will be able to access digital assets and transfer them across their accounts.
The network uses automated address authentication, which removes the need for counterparties to exchange deposit addresses when transferring assets and enables off-exchange settlement on trades.
Zodia Custody’s digital asset safeguarding platform, Interchange, will also be made available for financial institutions on the Fireblocks network. The platform mitigates counterparty risk exposure, and provides additional security, risk management and solvency protection during the trade of digital assets.
By integrating their offerings, the companies aim to create a ‘one-stop shop’ for financial institutions to manage their digital asset holdings. The partnership will remove the technical and operational complexity that comes from using multiple accounts on trading venues and exchanges, Zodia Custody states.
James Harris, chief commercial officer at Zodia Custody, says: “Connectivity is key in digital assets. In working with Fireblocks, we’re making digital assets more accessible and streamlined for institutions in need of a simplified solution to trade digital assets — without compromising security. Advancing and strengthening networks such as these are key for the future of this market.”
Richard Astle, vice president of Fireblocks Network at Fireblocks, comments: “In today’s markets, regulation and risk is at the forefront of client decision making. The Fireblocks Network has helped connect 1,800 of our clients to transfer trillions in digital assets directly between one another.
“Rather than creating isolated ecosystems, it’s important for technologies to interoperate and ensure digital market infrastructure can function efficiently and securely when transferring value, particularly for regulated institutions to enter the market.”
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