{"id":41864,"date":"2022-12-07T15:48:46","date_gmt":"2022-12-07T19:48:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=41864"},"modified":"2022-12-07T15:48:49","modified_gmt":"2022-12-07T19:48:49","slug":"zodia-custody-launches-service-to-protect-users-crypto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/zodia-custody-launches-service-to-protect-users-crypto\/","title":{"rendered":"Zodia Custody Launches Service To Protect User’s Crypto"},"content":{"rendered":"\n
The new service, Interchange, launched by Zodia Custody<\/a> will provide an alternative to the pre-funding and margin models of crypto exchanges.<\/h5>\n\n\n\n
\"Zodia
Zodia Custody Launches Service To Protect User's Crypto<\/figcaption><\/figure>\n\n\n\n

Zodia Custody, a provider of digital assets<\/a>, has introduced a new service to help shield its customers from exchange bankruptcy. The new service, called Interchange, will, according to the company, offer an alternative to the pre-funding and margin models of exchanges.<\/p>\n\n\n\n

Users will be able to mirror their holdings in exchanges while maintaining their assets with Zodia Custody thanks to the service, which will protect users' digital assets in the event that an exchange goes out of business. Based in London, the cryptocurrency storage provider is backed by financial institutions Standard Chartered and Northern Trust.<\/p>\n\n\n\n

\n

Introducing our new service: Zodia Interchange in collaboration with @zodiamarkets\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. You can now actively trade on multiple exchanges directly from your #custody<\/use><\/svg><\/span><\/a> wallet. Minimum risk & full asset #segregation<\/use><\/svg><\/span><\/a> guaranteed\u2757\ufe0f#SecureTrading<\/use><\/svg><\/span><\/a>
Learn more: https:\/\/t.co\/Y05hUeDVN2<\/use><\/svg><\/span><\/a> pic.twitter.com\/KlqAluR0LP<\/use><\/svg><\/span><\/a><\/p>— Zodia (@ZodiaCustody) December 7, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

The Interchange service from Zodia Custody, which is already operational, aims to give exchanges transparency and control without transferring ownership of the underlying assets. <\/p>\n\n\n\n

The system automates post-trade settlement and gives rapid access to exchange trading balances. Zodia Markets, a sibling business of the cryptocurrency storage provider, will also make use of this new service.<\/p>\n\n\n\n

The company's guiding principles “have always evolved around asset safety, segregation between custody and trading, and the effective management of counterparty risk,” according to Maxime de Guillebon, CEO of Zodia Custody<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

A month after the collapse of FTX, which cost investors and exchange users billions of dollars, this new service was launched. Other businesses operating in the cryptocurrency ecosystem have been harmed as a result of FTX's demise. <\/p>\n\n\n\n

BlockFi, one of the biggest crypto lenders in the market, declared bankruptcy as a result of its exposure to FTX. Following the collapse of FTX, another well-known name in the cryptocurrency industry, Genesis Trading<\/a>, is also having significant problems. The financial services provider's operations are all but impossible because of more than $170 million in assets that are stuck on FTX.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new service, Interchange, launched by Zodia Custody will provide an alternative to the pre-funding and margin models of crypto exchanges. Zodia Custody, a provider of digital assets, has introduced a new service to help shield its customers from exchange bankruptcy. The new service, called Interchange, will, according to the company, offer an alternative to […]<\/p>\n","protected":false},"author":43,"featured_media":41866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[870,1847],"class_list":["post-41864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-technology","tag-zodia-custody"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/jpg_20221207_200852_0000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=41864"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/41866"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=41864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=41864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=41864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}