DeFi
Zodia Custody and Maple Finance Partner to Bridge TradFi and DeFi
In a move signaling growing institutional interest in decentralized finance (DeFi), Zodia Custody, a leading digital asset custodian backed by major financial institutions, has announced a strategic partnership with Maple Finance, a leading DeFi lending platform, according to a press release. announcement Tuesday.
Zodiac Guard Maple Finance has a strong list of shareholders, including Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank. The company provides secure custody solutions to institutions venturing into the digital asset space. Maple Finance, meanwhile, is a pioneer in DeFi lending, facilitating the borrowing and lending of cryptocurrencies between institutional and individual investors.
The partnership is based on Zodia Custody becoming the preferred custodian of collateral pledged in Maple Finance’s lending pools. This allows Maple users to leverage their digital assets to obtain loans while keeping them securely in Zodia’s regulated environment. Additionally, Zodia Custody wallets will now support the Maple token, meeting the growing demand for alternative investment avenues that offer potentially high returns.
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This expansion is part of Zodia Custody’s broader vision to capture the booming Asia-Pacific market, driven by a surge in institutional demand for secure custody of digital assets.
The partnership is part of the broader picture of DeFi maturing. Zodia emphasizes the need to “systematically bridge the gaps” between TradFi and DeFi, emphasizing a collaborative approach rather than a disruptive one. This echoes comments from executives at both companies.
“By partnering with Zodia Custody, we’re not just setting the tone for institutional adoption, we’re setting the standard,” said Ryan O’Shea, Chief Operating Officer of Maple Finance. “Together, we’re advancing the infrastructure and cultivating the borrowing and lending solutions institutions need to bring more assets on-chain, with more security, more options, and more transparency.”
“The Maple Finance team shares our vision of unlocking the potential of digital assets not by disrupting the market, but by systematically bridging the gaps between traditional and decentralized finance,” added Julian Sawyer, CEO of Zodia Custody.
This partnership is expected to lead to deeper integrations, potentially expanding Zodia’s yield-generating offerings for institutional investors. This builds on Zodia’s 2023 partnership with OpenEden, another Challenge player. Integration with Maple Finance is planned for early Q3 2024.