September 13, 2023 – Zodia Custody, an instituional digital asset custodian backed by Standard Chartered, SBI Holdings, and Northern Trust, has partnered with Parity Technologies to provide robust custody solutions for the Polkadot (DOT) ecosystem. This collaboration aims to expand institutional access and enable secure participation in Polkadot and the evolving Web3 landscape.
The first stage of the partnership will see Zodia Custody provide custody services for the Polkadot ecosystem. As a UK FCA, Irish CBI, and Luxembourg CSSF registered entity, Zodia offers bank-grade security and compliance for institutional Polkadot investors. The next stage of the partnership will allow financial institutions to stake DOT tokens while assets remain protected via Zodia’s institutional-grade cold storage custody.
“The gap between the world of digital assets and traditional finance is coming together, but strategic partnerships such as this one will help bridge that gap at scale,” said Julian Sawyer, CEO of Zodia Custody. “This partnership with Parity is essential to the future of this ecosystem by enabling future institutional participation. Together, we’re making Polkadot’s technology more accessible for institutions, while also bringing all the regulatory, governance, and security expertise we have as a bank-owned and registered entity.”
“This collaboration with Zodia Custody is a win-win,” noted Parity Technologies CEO Björn Wagner. “It will allow financial institutions to actively participate in the Web3 future being built on Polkadot, and will also help the Polkadot ecosystem to engage directly with institutions. By tapping into Zodia Custody’s deep expertise as leaders in the digital asset custody space, this relationship will undoubtedly boost innovation, participation, and adoption across Polkadot.”
The partnership also entails joint research initiatives to educate institutions on Polkadot technology and support Parity’s global ecosystem growth.