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Standard Chartered-Backed Zodia Custody Partners with Crypto Lending Firm Maple Finance
Under the agreement, collateral pledged to Maple Finance will be securely held by Zodia Custody
Updated Jul 9, 2024, 9:09 a.m. Published Jul 9, 2024, 9:07 a.m.
Zodia Custody, the cryptocurrency safekeeping service backed by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, has partnered with crypto lending specialist Maple Finance, the companies said on Tuesday.
Under the agreement, collateral pledged to Maple Finance will be securely held by Zodia Custody, allowing its customers to unlock value from their digital assets while remaining within the Zodia Custody ecosystem, according to a press release.
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Maple was one of the few crypto lending platforms safe and robust enough to weather the storms of 2022 and the collapse of FTX. It’s now interesting to see a platform like Zodia Custody, with its bank and institutional affiliations, edging closer to crypto lending.
The move by Zodia builds on its partnership with Singapore-based OpenEden, announced in 2023. Meanwhile, Zodia backer Standard Chartered plans to enter spot trading of crypto in the coming months.
The Zodia Custody/ Maple Finance integration is targeted to go live by early Q3, the companies said in a statement.
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