dailyhodl.com
Ripple Labs’ Metaco is integrating with an institutional custody firm backed by financial services giant Standard Chartered.
According to a new press release, Metaco, a provider of digital assets infrastructure, is integrating with the London-based crypto custodian firm Zodia Custody as a means of creating a global network for institutions.
“The integration enables institutions to access Zodia Custody’s bank-grade custody solutions through Metaco. The expanded collaboration between the two companies follows a longstanding strategic relationship and is designed to further build out networked options for institutional investors, enabling them to gain additional secure, reliable and compliant end-to-end digital asset service capabilities.
It also strengthens global digital asset infrastructure by improving connectivity to the foundational Layers 0 and 1 blockchains – creating a robust settlement network built on distributed ledgers.”
The integration aims to grant blue-chip firms access to Zodia’s Interchange product, which provides clients with institutional-grade security, solvency protection, and risk management.
“Metaco’s institutional clients – including some of the world’s premier banks and financial institutions – are able to leverage the network’s interoperability standards to access and govern interactions with various value-added service providers, allowing for better choice in how they execute their digital asset strategy across jurisdictions and asset classes.”
As stated by Adrian Treccani, founder and CEO of Metaco,
“We are committed to providing interoperable, open infrastructure that enables institutions to create innovative, value-added services, thereby establishing the benchmark for the future of digital asset ecosystems.”
According to the press release, Zodia says that it has plans to develop and launch its own network sometime in 2024.
Ripple acquired Metaco in May for $250 million in response to research suggesting that blue-chip firms were planning to incorporate digital assets into their business models within the next three years.