Zodia Custody Launches Solution To Safeguard Customer Assets From Exchange Insolvency

Zodia Custody, a London-based cryptocurrency custodian, is launching a new solution to safeguard customer funds from exchange collapse.

According to a press release from the company, the new service, Interchange, will allow customers to maintain assets through Zodia Custody and then replicate those holdings on an exchange. This service will be used by Zodia Markets, a sibling company of Zodia.

“Zodia Custody’s key principles have always evolved around asset safety, segregation between custody and trading, and the effective management of counterparty risk,” said Maxime de Guillebon in the release.

“The difficulties crypto investors have endured over the last year have exacerbated how critical these principles are today. At Zodia Custody, we believe that such a solution, like Interchange, is not optional, but mandatory.”

Zodia Custody is a subsidiary of UK investment bank Standard Chartered and backed by Northern Trust.

In order to start working on Zodia in December 2020, Northern Trust teamed with SC Ventures, the innovation and ventures division of Standard Chartered. According to its website, Chicago-based Northern Trust had $12.8 trillion in assets under custody as of September 2022.

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