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Zodia Custody, a cryptocurrency safekeeping 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 agreement was announced on Tuesday.
Under this new agreement, collateral pledged to Maple Finance will be securely held by Zodia Custody. This arrangement allows customers to unlock value from their digital assets while staying within the Zodia Custody ecosystem, as detailed in a press release.
Maple Finance has proven to be one of the few crypto lending platforms robust enough to survive the turbulent market conditions of 2022 and the collapse of FTX. The partnership with Zodia Custody, which has strong bank and institutional affiliations, marks a significant step towards integrating crypto lending with traditional financial institutions.
This move builds on Zodia’s previous partnership with Singapore-based OpenEden, announced in 2023. Additionally, Standard Chartered, a backer of Zodia Custody, plans to enter spot trading of cryptocurrencies in the coming months.
The integration of Zodia Custody with Maple Finance is expected to go live by early Q3, according to a statement from the companies.
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