Zodia Custody takes TradFi to Polkadot

Zodia will set up day-care services for the ecosystem Polkadot to facilitate access to financial institutions. The startup from crypto-custody British has extended its presence to Singapore in September.

Zodia Custody announced this Wednesday an alliance with Parity Technologiesone of the main entities behind the Polkadot.

The subsidiary of the London-based bank Standard Chartered will begin supplying custodial services The Polkadot ecosystem will provide “bank-level” custodial services, offering “secure access to the market” for financial institutions. Zodia Custody will then enable institutional investors to staker Polkadot’s native token, DOTfor your safety.

The gap between the world of digital assets and that of traditional finance is closing, but strategic partnerships like this one will help bridge that gap on a grand scale,” Zodia Custody CEO Julian Sawyer enthused in a statement.

For Björn Wagner, Parity’s new boss, the partnership “will undoubtedly drive innovation, participation and adoption” across the ecosystem Polkadot.

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Zodia Custodywhich raised $36 million in Series A earlier this year, recently opened new offices Singapore. Julian Sawyer said this week on CNBC that the expansion would allow the custodian to offer custody services to singaporean banks. According to the executive, the city-state has reached “this next level of maturity” in terms of regulation.

Last spring, Zodia approached the digital asset manager CoinShares and exchange LMAX Digital to offer a suite of “institutional-quality” products.

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