Standard Chartered-backed Zodia Custody adds support for Deribit

Cryptocurrency custodian Zodia Custody is teaming up with cryptocurrency exchange Deribit to provide institutional clients with access to market derivatives liquidity while keeping their assets in segregated cold wallets.

Zodia Custody, a crypto custody provider backed by Standard Chartered, has announced a partnership agreement with crypto options exchange Deribit in an effort to expand the roster of Interchange network members.

Zodia said in a July 30 announcement that it will integrate Deribit into its Interchange network, an outdoor settlement solution for institutional and high-volume investors, as part of the deal. The collaboration unlocks a “differential market advantage” for its customers because the Interchange network “enables seamless trading while keeping assets secure,” Zodia Custody chief commercial officer James Harris said in the announcement.

The latest partnership comes just a month after Zodia secured funding from Australia’s largest bank, strengthening its position in the institutional digital asset custody sector.

As Crypto.news previously reported, the custodian has raised new capital from NAB Ventures, the venture capital arm of National Australia Bank, one of Australia’s largest financial institutions.

With the bank’s backing, Zodia Custody now has the backing of four major financial institutions globally, adding to previous investments from Standard Chartered, Northern Trust and SBI Holdings. News of the funding round suggests the custodian plans to use the new capital to accelerate its efforts in Australia, particularly in onboarding local digital asset exchanges amid regulatory changes expected by 2025.