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Zodia Custody, Maple Finance Partner to Bridge TradFi, DeFi

Maple Finance will use Zodia Custody as its preferred custodian for global lending arrangements, providing institutional clients with access to a secure and compliant wallet structure.

Photo by nabil boukala / Unsplash

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In a move signaling growing institutional interest in decentralized finance (DeFi), Zodia Custody, a leading digital asset custodian backed by major financial institutions, has announced a strategic partnership with Maple Finance, a prominent DeFi lending platform, according to an announcement on Tuesday.

Zodia Custody boasts a heavyweight shareholder roster including Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank. The firm provides secure custody solutions for institutions venturing into the digital asset space. Maple Finance, on the other hand, is a pioneer in DeFi lending, facilitating borrowing and lending of cryptocurrencies between institutional and individual investors.

The partnership hinges on Zodia Custody becoming the preferred custodian for collateral pledged in Maple Finance's lending pools. This allows Maple's users to leverage their digital assets for loans while keeping them securely stored within Zodia's regulated environment. Additionally, Zodia Custody wallets will now support the Maple token, catering to the growing demand for alternative investment avenues with potentially high returns.

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The expansion aligns with Zodia Custody’s broader vision of capturing the burgeoning Asia-Pacific market, driven by a surge in institutional demand for secure digital asset custody.

The partnership aligns with the broader narrative of DeFi maturing. Zodia emphasizes "systemically bridging the gaps" between TradFi and DeFi, highlighting a collaborative approach rather than disruption. This resonates with comments from both companies' executives.

“In partnering with Zodia Custody, we aren’t just setting the tone for institutional adoption — we’re setting the standard.” Ryan O’Shea, Maple Finance's head of operations, said. “Together we are advancing the infrastructure and cultivating the borrowing and lending solutions institutions need to bring more assets on-chain, with more security, more options, and more transparency.”

“The team at Maple Finance share our vision of unlocking the potential of digital assets not by disrupting the market, but by systemically bridging the gaps between traditional and decentralised finance," Julian Sawyer, CEO of Zodia Custody, added.

The partnership is expected to lead to deeper integrations, potentially expanding Zodia's yield-generating offerings for institutional investors. This builds upon Zodia's 2023 partnership with OpenEden, another DeFi player. The integration with Maple Finance is targeted for early Q3 2024.