Zodia Custody, which claims to be an “institution-first” digital asset custodian, whose shareholders reportedly include Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank, has launched Unified Wallets, a feature to enhance its core custody solution, offering institutional digital asset and fund managers the optionality to “pool funds” from their own customers, to facilitate easier transactions and boost operational efficiencies.
Via Unified Wallets, financial institutions and digital asset firms can receive multiple deposits into individual, unique wallets, each associated with individual underlying clients.
As explained in the update shared by Zodia Custody, this enables the custodian’s clients to “automatically collect” these deposits in a cost-effective manner, and utilize the “collection of assets” for more efficient trading, without compromising on control and security.
Zodia Custody’s Unified Wallets and forwarding capabilities enable their clients to track deposits and benefit from the custodian’s faster withdrawals from cold storage.
Zodia Custody’s Unified Wallets service are currently live and available to institutions and digital asset trading venues, and is said to be “fully” compatible with the company’s other products.
Galaxy (TSX:GLXY), a provider of financial and investment management services focused on the digital asset and blockchain sectors, is said to be the first Zodia Custody client to “go live” with Unified Wallets, which was developed with Galaxy’s business model “in mind.”
This is in addition to Galaxy utilising Zodia Custody as “one of its custodial partners to support its trading operations.”
Andrew Taubman, Deputy Chief Operations Officer at Galaxy said that Zodia Custody’s approach improves their ability to manage digital assets efficiently and promotes confidence and scalability across their trading operations.
Clients can also take advantage of the custodian’s Interchange offering, which prpovides crypto-assets investors a choice in trading venues, with off-venue settlement for centralized exchanges, and for market makers as well as over-the-counter (OTC) desks.
Sawyer added that the adoption of their suite of products is considered to be a testament to the strength of what they provide digital asset firms, providing a solution that addresses the needs of various investors.