Zodia Custody Partners with OpenEden to Offer Staking Services for Institutional Investors

Discover an unprecedented alliance as Zodia Custody collaborates with OpenEden to offer staking services targeted at institutional investors.

Learn how this partnership aims to tap into tens of billions of dollars in idle stablecoins, presenting new profit-making opportunities while offering bank-level security for digital assets.

Providing Profit-Making Opportunities for Institutional Investors

On September 19, 2023, Zodia Custody announced its collaboration with OpenEden, a Singapore-based digital asset platform development company, to provide staking services for institutional investors.

Zodia Custody is operated in partnership with Northern Trust, SBI Holdings, and led by Standard Chartered Bank, offering digital asset custody solutions for institutional clients.

With this new partnership, institutional investors will have access to a service called "Zodia Custody Yield."

Utilizing this service allows investors to securely store digital assets in a bank-level environment while capitalizing on profit-making opportunities through OpenEden's platform.

OpenEden Co-founder Jeremy Ng on the New Opportunity

Jeremy Ng, the co-founder of OpenEden, stated, "Despite the ease with which profits can be generated, tens of billions of dollars' worth of stablecoins are lying idle."

By combining the services of both companies, new opportunities can be presented to institutional investors.

Despite the potential for easily generating profits, tens of billions of dollars in stablecoins remain idle.

This represents a significant opportunity, and both OpenEden and Zodia Custody aim to facilitate issuers and investors in entering the digital asset market securely and transparently through tokenized financial products.

Zodia Custody's Earlier Entry into Singapore’s Financial Ecosystem

Zodia Custody had announced its entry into Singapore on the 12th of this month.

The announcement highlighted that "it’s the first business entity collaborating with banks to offer digital asset custody services in Singaporean financial institutions" and reported "an increasing demand for bank-level digital asset custody in Singapore."

This partnership is expected to meet the needs of investors and contribute to the further growth of the cryptocurrency market.