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Standard Chartered-backed Zodia Custody partners with crypto lending firm Maple Finance
Zodia Custody, the crypto custody service backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank, has partnered with a crypto lending specialist Maple Financethe companies said Tuesday.
Under the agreement, collateral given to Maple Finance will be securely held by Zodia Custody, allowing its clients to profit from their digital assets while remaining within the Zodia Custody ecosystem, according to a press release.
Maple was one of the few crypto lending platforms that was safe and robust enough to weather the storms of 2022 and the collapse of FTX. It’s now exciting to see a platform like Zodia Custody, with its banking and institutional affiliations, move closer to crypto lending.
Zodia’s approach is based on its partnership with the Singapore-based company OpenEdenannounced in 2023. Meanwhile, Zodia’s sponsor Standard Chartered Plans enter crypto spot trading in the coming months.
The integration of Zodia Custody and Maple Finance is expected to be operational by early in the third quarter, the companies said in a statement.