Parity and Zodia Custody facilitate seamless institutional access to the Polkadot ecosystem, offering compliant custody and secure stake.
Zodia Custody will support institutional adoption of the Polkadot ecosystem through collaborative research and development initiatives
London and Singapore, September 13, 2023–(BUSINESS WIRE)–Zodia Custody, a leading institution-first digital asset custodian whose shareholders include Standard Chartered, SBI Holdings and Northern Trust, today announced a long-term strategic partnership with Parity Technologies, a leading contributor to Polkadot. . The partnership will enable institutional access to the Polkadot ecosystem and, in the long term, broaden institutional adoption of the Polkadot ecosystem through joint research and development initiatives.
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In the first major implementation of the partnership, Zodia Custody will provide custody services for the Polkadot ecosystem, enabling secure market access and bank-grade digital asset custody services for financial institutions. In respect of its activities in crypto assets and as a VASP, Zodia Custody is registered with the UK’s FCA, Ireland’s CBI and Luxembourg’s CSSF in accordance with the money laundering requirements of each jurisdiction. As a result, institutions are able to operate with a high level of regulatory compliance and within a framework of enhanced security on a registered platform.
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The next phase of the partnership will also enable financial institutions to stake Polkadot’s native token DOT while the assets are kept safe in cold storage within Zodia Custody, expanding the reach of the partnership across the Polkadot ecosystem to institutions. The service is designed to increase contributions to securing the Polkadot network as frictionless and decentralized as possible.
“The intersection between the world of digital assets and traditional finance is coming together, but a strategic partnership like this will help bridge that gap at scale,” said Julian Sawyer, CEO of Zodia Custody. “This partnership with Parity is essential to the future of this ecosystem by enabling future institutional participation. Together, we are making Polkadot’s technology more accessible to institutions, as well as the leverage we have as a bank.” “All are also bringing regulatory, governance and security expertise – owned and registered entity.”
“This collaboration with Zodia Custody is a win-win,” said Björn Wagner, CEO of Parity Technologies. “This will allow financial institutions to actively participate in the Web3 future being built on Polkadot, and will also help the Polkadot ecosystem connect directly with institutions. Zodia Custody’s deep standing as leaders in the digital asset custody space “By harnessing the expertise this relationship will create, Polkadot will undoubtedly drive innovation, participation, and adoption.”
Zodia Custody’s work with Parity will also allow the digital asset custodian to support the long-term development and growth of the Polkadot ecosystem. This includes educating institutions about Polkadot technology through cross-collaboration research and development. Zodia Custody will also support various Parity and Polkadot global initiatives.
Notes to editors:
High-resolution images and logos can be found here.
For more information about Zodiac Custody: LinkedIn, Twitter,
About Zodia Custody
Zodia Custody is the first digital asset custodian led by Standard Chartered in collaboration with Northern Trust and SBI Holdings. It enables institutional investors around the world to realize the full potential of the future of digital assets – simply, securely and without any compromise. Through a combination of leading-edge technology, custody, governance and compliance, Zodia Custody meets the complex needs of institutional investors.
Zodia Custody implements the requirements of 5AMLD and applies the same standards as Standard Chartered regarding AML, FCC and KYC. It implements FATF travel rule requirements. Zodia Custody Limited is registered with the FCA in the UK as a crypto asset business under the Anti-Money Laundering, Terrorist Financing and Fund Transfers Regulations 2017. Zodia Custody (Ireland) Limited is registered as a VASP under the Criminal Justice Act with the Central Bank of Ireland. (Money Laundering and Terrorist Financing) Act 2010 (Amended). Zodia Custody (Ireland) Limited was established in Ireland in August 2021. Zodia Custody Ltd. is registered with the CSSF in Luxembourg as a Virtual Asset Service Provider pursuant to Article 7-1(2) of the Law of 12 November 2004 on FIIs. Against Money Laundering and Terrorist Financing, as amended.
Notes to editors:
High-resolution images and logos can be found here.
For more information about Polkadot: LinkedIn, Twitter,
About Polkadot
Polkadot is the blockspace ecosystem for unlimited innovation. This enables Web3’s biggest innovators to bring their ideas to market faster with flexible cost and token options. By making blockchain technology secure, connected, flexible, efficient, and cost-effective, Polkadot is powering the movement for a better web.
About Parity Technologies
Parity Technologies Ltd. is a software development company and group of technology experts who are passionate about building an Internet that works for all. Composed of some of the world’s leading blockchain innovators, core engineers, Rust developers and solutions architects, Parity has offices in Berlin, London, Lisbon and Singapore. Working with the Web3 Foundation, Parity successfully completed the launch of Polkadot in 2021 and remains a leading contributor to the network.
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Contact
Zodiac Custody:
rich gone
Gallium Ventures
+44 (0) 7745 496 065
rich@galliumventures.com
Parity Technology:
Laura Cooley
Parity Technologies
laura.cooley@parity.io
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