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Collateral Transferred To Maple Finance Will Be Securely Held By Zodia Custody

source-logo  cryptonews.net 09 July 2024 13:33, UTC

Zodia Custody, a cryptocurrency custody service backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank, has entered into a partnership with crypto lending specialist Maple Finance, the companies announced on Tuesday. Under the agreement, the collateral transferred to Maple Finance will be securely held by Zodia Custody, allowing its clients to benefit from their digital assets while remaining within the Zodia Custody ecosystem.

Maple was one of the few crypto lending platforms safe and reliable enough to withstand the storms of 2022 and the FTX collapse. Now a platform like Zodia Custody, with its banking and institutional affiliates, is moving closer to crypto lending. Zodia’s move builds on a partnership with Singapore-based OpenEden announced in 2023.

Meanwhile, Zodia backer Standard Chartered plans to launch spot cryptocurrency trading in the coming months. The integration of Zodia Custody and Maple Finance is planned for the beginning of the third quarter, the companies said in a statement.

Image: Global Finance Magazine