Zodia Custody, a pioneering startup in digital asset custody, is set to make waves at this year’s ICT Spring conference in Luxembourg. With a focus on security, compliance, and scalability, Zodia Custody will showcase its innovative solutions that revolutionize the future of financial services, while reaffirming its position as a trusted custodian for institutional investors. CEO John Cronin tells us more.
Can you give us an overview of what Zodia Custody is and what types of services it offers to its clients in the digital asset custody space?
Essentially, we are a digital asset custodian. We offer excellent tech – we only do cold storage and we can trade from there in under 10 seconds – without any compromise on security. As well as core custody, we offer other services like our off-exchange settlement through our Interchange product and yield enhancement products, such as staking. Most of all, we offer assurance and can help our institutional clients manage their operational, reputational and regulatory risks when investing in digital assets.
How does Zodia Custody prioritize the security and privacy of its clients’ digital assets, and what steps does the company take to ensure that data is protected?
There can be no compromise on security in digital assets. We’re bank-owned, have bank-grade security and standards, and have robust measures in place to keep institutional client data and holdings secure. We’ve implemented CASS principles, offer an insolvency remote trust structure, only do segregated wallets with no omnibus accounts or commingling of client assets, have both SOC and ISO certification, are subject to an internal audit, ethical hacking and bug bounties, have Big 4 audited key ceremonies, etc.
Can you discuss Zodia Custody’s approach to innovation and how the company plans to stay ahead of the curve in an ever-evolving digital asset landscape?
This space moves quickly – two years ago, we didn’t have staking, DeFi or NFTs – so it’s imperative that we are always looking to the future. This is led by our CTO and co-founder Thierry Janaudy, who is at the cutting edge of the evolution of blockchain technology. What’s interesting to us at the moment is atomic swap, proof of ownership, on-chain NFTs, decentralised finance risk, liquidity staking, smart contracts, tokenization, Metamask for Institutions, among other things. We’re also looking forward to participating in the DLT pilot as part of the EU Blockchain Sandbox with Frictionless Markets.
How does Zodia Custody work with its clients to understand their digital asset custody needs and goals, and what steps does the company take to provide personalized solutions and support to each individual client?
With every market we enter, we take the time to get to know the local market conditions, challenges, and opportunities, including how we can best work with regulators and the local ecosystem. Luxembourg is really interesting to us, particularly as digital assets are converging with the already established asset management industry, and this is a trend that will only continue to accelerate.