Joining Fireblocks comes as a natural step for Zodia Custody towards continuously building the market infrastructure institutions need to enter the digital asset ecosystem at scale. As part of the Fireblocks Network, institutional investors are able to transfer digital assets securely across all of their accounts, using Fireblocks’ unique automated address authentication which removes the requirement for counterparties to exchange deposit addresses, when transferring assets, as well as benefit from off-exchange settlement on their trades.
The strategic collaboration connects financial institutions to Zodia Custody’s Interchange – a market-leading solution providing investors with top-class safeguarding of digital assets and mitigating counterparty risk exposure – on the Fireblocks Network. This added connectivity offers an additional security layer, risk management and solvency protection when trading digital assets.
The integration also effectively eliminates the technical and operational complexity that comes with using multiple accounts on trading venues and exchanges, providing financial institutions with a seamless one-stop shop to manage all of their digital asset holdings.
“Connectivity is key in digital assets,” says James Harris, Chief Commercial Officer, Zodia Custody. “That’s why being the most connected digital asset custodian is our top priority. In working with Fireblocks, we’re making digital assets more accessible and streamlined for institutions in need of a simplified solution to trade digital assets — without compromising security. Advancing and strengthening networks such as these are key for the future of this market.”
“We are excited to bring our enterprise-grade, multi-layer security solution to Zodia Custody. In today’s markets, regulation and risk is at the forefront of client decision making,” says Richard Astle, Vice President, Fireblocks Network at Fireblocks, “The Fireblocks Network has helped connect 1,800 of our clients to transfer trillions in digital assets directly between one another. Rather than creating isolated ecosystems, it’s important for technologies to interoperate and ensure digital market infrastructure can function efficiently and securely when transferring value, particularly for regulated institutions to enter the market.”
The collaboration with Fireblocks signals Zodia Custody’s commitment to unmatched connectivity, coming a day after it announced the integration with Metaco, a Swiss-based provider of digital asset custody and tokenisation technology, to offer greater custody options for institutions. It will come into force and be available for financial institutions to access in Q1 2024.
