Bitfinex teams up with Zodia Custody in boost to institutional trading

Bitfinex has announced a strategical collaboration with Zodia Custody, enabling organization clients to commercialized seamlessly connected the speech portion their assets stay safeguarded done Zodia’s off-exchange colony solution, Interchange.

According to a Sept. 28 connection shared with CryptoSlate, organization clients who support accounts with Zodia Custody and Bitfinex tin present seamlessly replicate their custodial assets connected the crypto speech for trading.

This integration offers Zodia Custody users the convenience of trading their assets without the request for existent transfers. The colony resulting from these trading activities volition hap periodically connected the blockchain, facilitating businesslike level interaction.

Bitfinex stated that the concern underscores its continued committedness to separating trading and custodial functions, a determination aimed astatine enhancing information and fortifying the wide marketplace structure.

Meanwhile, this strategical concern with Zodia Custody, a UK-licensed entity, reflects Bitfinex’s ongoing efforts to collaborate with reputable custodians. It follows erstwhile collaborations with esteemed custodial partners, including Koine successful 2020 and Digivault successful 2022.

Speaking connected the partnership, Bitfinex CTO Paolo Ardoino said:

“We are committed to shaping the aboriginal of integer marketplace infrastructure and enabling organization customers to thrive successful this space. Working with Zodia Custody is simply a important portion of that strategy, and unneurotic we tin look to alteration adjacent much institutions to participate oregon further enactment successful integer assets.”

Zodia Custody’s Julian Sawyer described Interchange arsenic an implicit necessity for integer assets investors. Sawyer added;

“Interchange has been designed from the crushed up to supply a better, much robust, attack to custody erstwhile trading done exchanges — this is custody, without compromise… This isn’t a ‘nice to have’ but an implicit requirement.”

Earlier successful the month, the Standard Chartered-backed custodial services supplier Zodia Custody launched successful Singapore, providing integer plus custody services for fiscal institutions successful the Asian country.

The station Bitfinex teams up with Zodia Custody successful boost to organization trading appeared archetypal connected CryptoSlate.