Deribit becomes newest member of Zodia Custody’s Interchange network

London, UK — 30 July 2024 — Zodia Custody, a leading institution-first digital asset global custodian whose shareholders include Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank, has partnered with Deribit, the world’s largest crypto options exchange by volume, and will integrate the exchange into Interchange, Zodia Custody’s off-venue settlement network.

Institutional clients will be able to access market-leading derivatives liquidity while their assets remain secure in Zodia Custody’s segregated cold wallets. The partnership with Deribit establishes Interchange as the network of choice for mature TradFi and crypto-native institutions that require access to market-leading CEXs and OTC liquidity.

Designed to provide advanced safeguarding of assets and reduce counterparty exposure, especially for high-volume trading, Zodia Custody’s Interchange is the first off-venue settlement network by an FCA-registered and global custodian. It combines the digital assets custodian’s rigorous approach to custody — including air-gapped, cold wallet storage and ensured 24/7, instant access through asset mirroring — with enhanced venue and institutional connectivity. Crucially, Interchange delivers reduced counterparty risk alongside enhanced capital efficiency through this model.

“This integration aligns with Deribit’s commitment to provide best-in-class trading and liquidity,” said Deribit CEO Luuk Strijers. “The partnership with Zodia Custody empowers institutions seeking the added trust and peace of mind that comes with a globally registered custodian. Zodia Custody’s upcoming integration is a testament to Deribit being a select venue, where institutions can have the custodian of their choice.”

James Harris, Chief Commercial Officer, adds “Interchange was built on the core principles of security and efficiency. These principles are attracting leading institutions and venues to join the network at an impressive pace. Partnering with Deribit strengthens our commitment to shaping the future of secure and efficient institutional digital asset infrastructure. Interchange offers a distinct market advantage: a technically superior, widely connected off-venue settlement network that enables seamless trading while keeping assets secure.”

The partnership is the custodian’s latest addition to the Interchange offering, enabling institutions to access a wider range of liquidity venues and execute seamless trades directly from Zodia Custody’s secure cold storage environment. Further expansions are expected in due course.