Standard Chartered-Backed Zodia Custody Joins Ripple-Owned Metaco’s Global Crypto Storage Network
Summary
Cryptocurrency storage provider Zodia Custody is joining Ripple-owned custody specialist Metaco's network to handle the safekeeping and settlement of digital assets for institutions worldwide. The network involves the assets staying in custody to prevent counterparty risk, a growing trend following last year's firm collapses. Zodia Custody's CEO, Julian Sawyer, describes it as the "third generation of crypto custody" where multiple custodians are linked together. The goal is to offer global sub-custody, where an institution employs another custodian to hold assets for it. Zodia Custody is registered in the U.K., Ireland, Luxembourg, and recently established itself in Singapore.
