Zodia Custody integrates Digital Prime Technologies’ Tokenet
14 March 2024 UK
Image: Vladimir
Zodia Custody, a digital asset custodian, has integrated Tokenet to launch Collateral Protect.
Tokenet is an institutional digital asset lending platform built by Digital Prime Technologies.
The new service allows institutions to access facilities for borrowing and lending of digital assets on Tokenet, while their collateral remains secured in Zodia Custody cold-storage wallets.
Counterparties will be able to manage assets tied to a loan via a segregated, on-chain collateral account that is overlaid with Zodia’s bankruptcy remote structure.
Both borrower and secured party interests will be protected through collateral schedule setup and ongoing monitoring through Tokenet, the firm says.
Further security features include minimised counterparty risk through on-chain segregated collateral accounts, liquidation risk management and robust wallet delegation control.
“This integration throws the doors wide open for institutions to enter the digital borrowing and lending market,” says James Harris, chief commercial officer of Zodia Custody.
”For the first time, they can do so within the same rigorous security and compliance measures they are used to from the traditional finance space. We have built frictionless capability enhancements for collateral protection.”
James Runnels, CEO and co-founder of Digital Prime Technologies, adds: “We continue our mission to deliver a product that helps provide transparency in the lending of digital assets.”
Tokenet is an institutional digital asset lending platform built by Digital Prime Technologies.
The new service allows institutions to access facilities for borrowing and lending of digital assets on Tokenet, while their collateral remains secured in Zodia Custody cold-storage wallets.
Counterparties will be able to manage assets tied to a loan via a segregated, on-chain collateral account that is overlaid with Zodia’s bankruptcy remote structure.
Both borrower and secured party interests will be protected through collateral schedule setup and ongoing monitoring through Tokenet, the firm says.
Further security features include minimised counterparty risk through on-chain segregated collateral accounts, liquidation risk management and robust wallet delegation control.
“This integration throws the doors wide open for institutions to enter the digital borrowing and lending market,” says James Harris, chief commercial officer of Zodia Custody.
”For the first time, they can do so within the same rigorous security and compliance measures they are used to from the traditional finance space. We have built frictionless capability enhancements for collateral protection.”
James Runnels, CEO and co-founder of Digital Prime Technologies, adds: “We continue our mission to deliver a product that helps provide transparency in the lending of digital assets.”
Next digital assets article →
Citi, WisdomTree and Wellington Management conduct tokenisation trial for private funds
Citi, WisdomTree and Wellington Management conduct tokenisation trial for private funds
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
