The company states that its new service, Interchange is an alternative to “the pre-funding and margin models on exchanges.”
Zodia Custody, a London-based crypto asset custodian for institutional investors backed by financial institutions Northern Trust and Standard Chartered, has launched a new service called Interchange.
According to a press release shared by Financial IT, the new service will protect “clients’ digital assets from exchange insolvency.”
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In its press release, Zodia Custody stated that Interchange can be considered an alternative to “the pre-funding and margin models on exchanges.” Users reportedly will be able to keep their assets with Zodia Custody but mirror them to other exchanges. Regarding the matter, the company noted:
Zodia Custody is committed to helping its clients safely and securely trade cryptocurrencies, while mitigating counterparty risk between participants involved in digital asset trading activities.
Interchange ensures customer safety by “combining institutional-grade security with the backing of a regulated entity.”
The company states that its new service can be used with Proof of Reserves and multi-exchanges. On top of that, Zodia highlighted that its new service, Interchange, offers full “transparency and control to exchanges.” Moreover, users can have “instant access to exchange trading balances” and automated post-trade settlement.
When talking about the release, Zodia Custody CEO Maxime de Guillebon stated:
The difficulties crypto investors have endured over the last year have exacerbated how critical these principles are today. At Zodia Custody, we believe that such a solution, like Interchange, is not optional, but mandatory.
It is worth noting that Zodia Custody was launched by Standard Chartered’s ventures and innovation unit two years ago, in December 2020. On top of that, during this time, Zodia Custody was registered by the United Kingdom’s financial regulator, the Financial Conduct Authority, as a crypto asset business.