To paraphrase an old Chinese proverb, “If you want 1 year of prosperity, grow grain. If you want a lifetime of prosperity, grow your network.”
Digital assets are evolving at speed enabling new markets and paradigms that underpin a new financial system. While custodians like Zodia Custody remain central to securing, and helping evolve the digital assets landscape, we realise that no one custodian or infrastructure provider alone will be able to serve the whole ecosystem. Instead, the future will be dependent on multiple parties being able to work seamlessly together and provide robust access for institutions, but to ensure that they can do so efficiently, and with security at the heart of everything.
Taking a leaf from the TradFi world where institutions have been able to connect and collaborate across a wide variety of services seamlessly, and in real time, we made a strategic decision last year, to open up our venue connectivity and off-exchange settlement product, Interchange, to selected partner networks.
The result was Interchange Connect.
Interchange Connect: Network of Networks
We launched Interchange Connect in late 2023 as a natural next step in the evolution of our off-exchange settlement solution, Interchange. It represents the next major leap forward in creating a rigorous and interconnected digital asset ecosystem.
Starting with Fireblocks’ NetworkLink, Copper’s ClearLoop and Metaco’s Sub-Custody networks, we plan to expand our reach even further with more partners on the way. This “network of networks” approach provides institutional clients the widest connectivity and access to the best services for their digital assets, directly from their Zodia Custody wallets.
In addition to unrivalled reach, another core tenet of Interchange Connect has been to ensure that we are reducing the technical and operational complexity with each integration. Clients can access all connected networks from the comfort and familiarity of Zodia Custody’s APIs, and we can streamline mutual onboarding so that our clients do not need to go through the same process multiple times.
Looking to the future, together
Across our business, we are all very much attuned to the idea that as the industry grows, it cannot be down to just one entity to future-proof the entire sector. Each entity will certainly have a specific part to play, and it will be in collaboration with each other.
Interchange Connect is opening the industry up and providing better and more robust solutions to fit the varied needs of institutions. It represents true ‘one stop shop’ model for digital asset ecosystem interoperability. This is custody with collaboration, without compromise for either side of the equation.
We are very excited to champion this ethos and execute on this shared vision with our fantastic partners.
Learn more about how Interchange Connect can bring greater interoperability to your digital asset team – contact us here.