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Standard Chartered-backed Zodia Custody partners with crypto lending firm Maple Finance
Zodia Custody, the cryptocurrency custody service backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank, has partnered with cryptocurrency lending specialist Maple Financethe companies said Tuesday.
According to a press release, under the agreement, collateral pledged to Maple Finance will be securely held by Zodia Custody, allowing its clients to unlock the value of their digital assets while remaining within the Zodia Custody ecosystem.
Maple was one of the few crypto lending platforms that was safe and solid enough to weather the storms of 2022 and the collapse of FTX. Now it is interesting to see a platform like Zodia Custody, with its banking and institutional affiliations, getting closer and closer to crypto lending.
Zodia’s move builds on its partnership with the Singapore-based company OpenEdenannounced in 2023. Meanwhile, Zodia’s backer Standard Chartered Plans to enter cryptocurrency spot trading in the coming months.
The integration between Zodia Custody and Maple Finance is expected to be operational by early Q3, the companies said in a statement.