Zodia Custody launches Unified Wallets

London, UK—16 October 2024—Zodia Custody, a leading institution-first digital asset custodian, whose shareholders include Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, has today launched Unified Wallets, a new feature to bolster its core custody solution, providing institutional digital asset and fund managers the optionality to pool funds from their own customers, in order to facilitate smoother transactions and drive operational efficiencies.

Through Unified Wallets, financial institutions and digital asset businesses are able to receive multiple deposits into individual, unique wallets, each associated with individual underlying clients. This allows the custodian’s clients to automatically collect these deposits in a cost-effective manner, and utilise the collection of assets for efficient trading, without any compromise on control, safety and security. Zodia Custody’s Unified Wallets and forwarding capabilities also allow their clients to seamlessly track deposits as well as benefit from the custodian’s quick withdrawals from cold storage.

Zodia Custody’s Unified Wallets service is now live and available to institutions and digital asset trading venues around the world, and is fully compatible with the firm’s other industry-leading products. Galaxy (TSX:GLXY), a global provider of financial and investment management services focused on the digital asset and blockchain sectors, is the first Zodia Custody client to go live with Unified Wallets, which was developed with Galaxy’s diversified business model in mind. This is in addition to Galaxy utilising Zodia Custody as one of its custodial partners to support its trading operations.

“Unified Wallets is further evidence of our commitment to innovation,” said Julian Sawyer, CEO of Zodia Custody. “By combining the flexibility of omnibus wallets with the security of segregated assets, we are putting forward a compelling proposition, making us best placed to support clients like Galaxy in their efforts to optimise digital asset operations. Through Unified Wallets, we offer unprecedented cost savings, streamlined operations, a comprehensive portfolio-management view and unparalleled security — helping to unlock asset management activity scalably and securely.”

“As institutional engagement with digital assets accelerates, the need for custodians offering both operational efficiency and top-tier security is paramount,” said Andrew Taubman, Deputy Chief Operations Officer at Galaxy. “Zodia Custody’s innovative approach not only enhances our ability to manage digital assets efficiently but also promotes confidence and scalability across our trading operations.”

Clients also benefit from the custodian’s unique Interchange offering, which offers sophisticated digital asset investors a choice in trading venues, with off-venue settlement not just for centralised exchanges, but for market makers and OTC desks as well.

Sawyer adds: “The growing adoption of our comprehensive suite of products is a true testament to the strength of what we offer digital asset businesses, creating a solution that addresses the unique needs of today’s investors.”