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Zodia Custody just joined hands with the famous crypto exchange, Deribit. This collaboration is expected to empower institutional clients to have access to market derivatives liquidity while maintaining their wealth in partitioned cold wallets.
Zodia Custody’s Strategic Partnership
Zodia Custody provides crypto options supported by Standard Chartered. The recent partnership with the exchange, Deribit, is supposed to increase the number of network members of its Interchange network. In a public statement on July 30, Zodia reportedly said that the terms of the agreement will integrate Deribit into its Interchange network which aims to provide high-scale and institutional traders to move their assets outside of regular platforms.
Additionally, Zodia Custody’s chief commercial officer James Harris announced that this strategic partnership gives way to a “distinct market advantage” for its clients as the Interchange network “enables seamless trading while keeping assets secure.”
New Funding for Expansion
This new collaboration hit the market right after a month when Zodia Custody received funding from Australia’s biggest bank. This funding from the Australian bank positions Zodia as a trusted name among the famous names of the institutional digital asset custody sector. Sources closer to the matter have also reported earlier that the custodian raised new capital from NAB Ventures. NAB Ventures is an integral part of the National Australia Bank, one of the most trusted financial institutions in Australia.
With the Australian bank standing side by side with Zodia Custody, the platform now has the world’s four biggest financial institutions backing it. The names include Standard Chartered, Northern Trust, and SBI Holdings. The funding round news stated that Zodia will be utilizing the newly secured funding to delve deep into the Australian market. These efforts will be centralized around onboarding local digit asset exchanges as the new regulatory changes are expected to come into play by 2025.
Deribit and Its Industry Impact
Deribit is a prime crypto derivatives exchange that enables users to trade in futures and options on Bitcoin and Ethereum. It was launched back in 2016 and to date, it has secured a reliable name in the market, evolving into a seasoned entity in the crypto sector. Its major aim is to bring a strong and secure infrastructure for trading in the market for large-scale entities like institutional and professional traders.
The platform is well-established and particularly known for high liquidity, competitive pricing, and advanced risk management features. This is what makes it a top choice for people who are finding ways to trade crypto derivatives.
Over time, Deribit has gathered backing from various high-profile investors and partners. This support from the industry has enabled it to add variety and diversity to its features and, in turn, to enhance the efficacy of its trading platform. Deribit is allegedly wedded to the idea of providing the highest level of security and out-of-the-box experience which has brought fleets of news user bases to the platform. All of this has made it a successful and venerated competitive in the crypto landscape.
Collaborations in the Crypto Industry
Partnerships like what Zodia Custody and Deribit have are integral when it comes to accelerated growth and maturation of the crypto arena. These collaborations expand the resources and expertise when they come together. Combined with advanced technology, such partnerships help give premium services to the clientele. Zodia Custody’s integration of its Interchange network with Deribit is now capable of giving extra security and efficiency to its users. They will be able to trade their derivatives safely and smoothly. It not only provides a sharp competitive advantage but also depicts the significance of strategic alliances in bringing innovation and trust within the crypto dynamics.
To conclude, the strategic collaboration between Zodia Custody and Deribit displays a huge milestone in the adoption of crypto assets at an institutional level. This underscores the need for security and efficiency in digital asset trading. Stay connected with the crypto updates on Turkish NY Radio.
