Latest news with #ZodiaCustody
Yahoo
04-06-2025
- Business
- Yahoo
Standard Chartered-Backed Zodia Custody Starts Safekeeping Tokenized Emeralds
Zodia Custody, the crypto custodian backed by big banks like Standard Chartered and SBI, will handle the safekeeping of tokenized emeralds, through a partnership with GEMx, a Swiss fintech company that specializes in blockchain-based co-ownership of the precious stones. The partnership allows access to the gemstone market through the EmGemX token, a way for institutional investors to receive fractional ownership in a diversified portfolio of high-quality emeralds, according to a press release on Wednesday. The tokenization of real world assets (RWAs) is bringing the blockchain world closer to traditional finance. In this case, physical emeralds, which have seen an average annual appreciation of around 9%, are stored in vaults and subject to regular, independent appraisals, the release said. 'Partnering with Zodia Custody is a major milestone in our mission to bring institutional trust and stability to the gemstone investment market,' said Paul Poltner, CEO and co-founder of GEMx. "With GEMx, we've built a framework that delivers real-world value through digital innovation that is secure, auditable, and has been historically inflation-resistant,' Poltner in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
08-05-2025
- Business
- Cision Canada
Bybit Forges "Bridges of the World" at Flagship Institutional Symposium, Culminating TOKEN2049 Week in Dubai
DUBAI, UAE, May 8, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, successfully concluded TOKEN2049 Week with its flagship Institutional (INS) Symposium, an exclusive, invite-only event designed to foster deeper connections and collaborative innovation within the institutional crypto space. Tailored for hedge funds, family offices, and high-net-worth investors, the symposium convened Bybit's top institutional clients and ecosystem partners for a full day of thought leadership, strategic alignment, and insightful discussions on the future of digital finance. Held under the theme of Bridges of the World, the event embodied the company's mission to build transformative connections between traditional finance and the emerging digital asset ecosystem, while paving the way for forward-thinking, inclusive financial growth. The agenda for the symposium was curated to provide actionable insights, including high-level discussions on macroeconomic trends, as well as deep dives into Bybit's cutting-edge institutional-grade products. Attendees explored partnership opportunities across several strategic areas, including advanced derivatives, unified loan account, API infrastructure, custody solutions, as well as stronger security and wallet solutions — all critical elements in building a resilient bridge to the future of finance. Shunyet Jan, Head of Institutional and Derivatives at Bybit, shared, "Bybit's 100% growth in institutional clients in 2024, surpassing 2,000 active entities, reflects the growing trust in our platform. This momentum is strengthened by strategic partnerships, including our collaboration with Zodia Custody for off-venue settlement solutions, responding to industry security concerns. Alongside partners like Fireblocks and Copper, we continue to ensure secure, institutional-grade custody for our clients." Throughout the event, leading voices from the industry shared their expertise, including Paul Kremsky, Head of Business Development at Cumberland; Jordi Alexander, CEO of SLN Selini Capital; and Dom Longman, Managing Director for the Middle East and Africa at Zodia Custody. Their participation underscored the importance of institutional engagement in shaping the future of crypto, highlighting the evolving role of regulated institutions in bridging the gap between traditional finance and digital assets. "The symposium was about fostering deeper relationships and creating space for institutions to align on shared goals," added Shunyet Jan. "By offering an inside look at what's coming next and opening the floor for collaboration, we're laying the foundation for future growth — together." Attendees from leading firms praised Bybit's resilience, innovation, and strong community presence. Han of Adaptive Frontier said, "Super well done handling the hack. Everyone was just super impressed. It gave us a lot of comfort." Jonas Schmidt of SSW Alpha Rock Fund PCC Ltd called it "an amazing experience trading with Bybit, one of the best exchanges," adding, "I wouldn't be happier with the exchange." Vincent Liu of Kronos Research shared his impression of the gathering: "This is a great event so far today. You guys have some great guests." Allen Fok of Elk Crypto concluded, "I'm really glad you guys are doing something like this — to have everybody in the same place where we can talk." Salim Dhanani of Pave Bank added, "The market is only going to grow 100x bigger and I think Bybit's perfectly positioned to capture it." Bybit's active role during TOKEN2049 Week further solidified its long-standing commitment to advancing global crypto adoption through education, infrastructure development, and strategic partnerships. As Dubai continues to establish itself as a global digital asset hub, Bybit is proud to contribute to the growth of the sector and support the institutions that are building the future of finance. About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at
Cision Canada
07-05-2025
- Business
- Cision Canada
Galaxy Partners with Zodia Custody Enabling Access to Staking, Liquidity, and Financing Solutions
NEW YORK, May 7, 2025 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) announced today that it has integrated with Zodia Custody, the institution-first digital assets platform backed by Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD, marking a strategic expansion of Galaxy's staking offerings into Europe with one of the region's leading custody providers. This integration significantly expands institutional access to Galaxy's comprehensive staking solutions across the European market, enabling Zodia Custody's clients to securely engage in compliant, high-performance staking while maintaining custody of their assets within their preferred jurisdiction. Through this integration, Zodia Custody's clients can now choose to stake with Galaxy and leverage the Company's infrastructure to help maximize rewards with minimal operational overhead, alongside robust monitoring, reporting, and risk-management tools. Crucially, the integration unlocks measurable utility for Zodia Custody's client network, as it allows clients staking with Galaxy to use their staked assets as collateral for loans and other financial products. This is achieved via Galaxy's Trading team, enabling access to liquidity without the need to sell their holdings. This new offering also lays the groundwork for future collaboration on exchange-traded products that incorporate staking and lending functionality, broadening access to digital asset products across European markets that aim to generate yield. "This collaboration with Zodia Custody reinforces Galaxy's dedication to providing quality blockchain infrastructure solutions for institutional investors," said Zane Glauber, Head of Blockchain Infrastructure at Galaxy. "Expanding our footprint in Europe is a strategic priority. By combining Zodia Custody's security and risk framework with Galaxy's market-leading staking and trading capabilities, we're providing institutions with a differentiated and streamlined way to participate in digital asset staking while remaining aligned with regional custody and regulatory requirements." "This partnership is the perfect fusion - allowing us to combine Galaxy's staking infrastructure with Zodia Custody's secure technology, with a view to unlock our clients' digital asset strategies through custody, staking, and financing opportunities," said Anoosh Arevshatian, Chief Product Officer at Zodia Custody. "The solution highlights the growing demand for secure, institutional-quality staking solutions with greater utility as large-scale investors increasingly seek reliable ways to maximize their participation in blockchain networks while mitigating risk." Galaxy's Blockchain Infrastructure team manages approximately $4.2 billion in assets under stake 1, serving institutional investors, digital asset platforms, and protocols. This integration with Zodia Custody marks Galaxy's second collaboration with a custodian this year, following the Company's inclusion in the set of staking providers integrated with BitGo in February 2025. _________________________________ 1 Assets under stake as of Dec. 31, 2024. About Galaxy Galaxy (TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, investment banking, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on About Zodia Custody Zodia Custody is the leading institution-first digital asset custodian by Standard Chartered, in association with Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD. It enables institutional investors around the globe to realise the full potential of the digital asset future – simply, safely, and without compromise. Through the combination of leading technology, custody, governance and compliance, Zodia Custody satisfies the complex needs of institutional investors. Disclaimers and Additional Information The TSX has not approved or disapproved of the information contained herein. CAUTION ABOUT FORWARD-LOOKING STATEMENTS The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. Statements that are not historical facts, including statements about our business plans and licenses and the parties, perspectives and expectations, are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) the inability to complete the proposed domestication and reorganization transactions, due to the failure to obtain shareholder and stock exchange approvals, or otherwise; (2) changes to the proposed structure of the transactions that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining shareholder or stock exchange approval of the transactions; (3) the ability to meet and maintain listing standards following the consummation of the transactions; (4) the risk that the transactions disrupt current plans and operations; (5) costs related to the transactions, operations and strategy; (6) changes in applicable laws or regulations; (7) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (8) changes or events that impact the cryptocurrency industry, including potential regulation, that are out of our control; (9) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (10) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (11) the possibility that there is a disruption in mining impacting our ability to achieve expected results or change in power dynamics impacting our results or our ability to increase load capacity; (12) any delay or failure to consummate the business mandates or achieve its pipeline goals in banking and Gk8; (13) liquidity or economic conditions impacting our business; (14) regulatory concerns, technological challenges, cyber incidents or exploits on decentralized networks; and (15) those other risks contained in the Annual Information Form for the year ended December 31, 2024 available on the Company's profile at and its Management's Discussion and Analysis, filed on March 28, 2025. Factors that could cause actual results to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of the stated addressable market; the failure or delay in the adoption of digital assets and the blockchain ecosystem; a delay or failure in developing infrastructure for our business or our businesses achieving our banking and Gk8 mandates; delays or other challenges in the mining business related to hosting, power or our mining infrastructure, or our ability to capture adjacent opportunities; any challenges faced with respect to decentralized networks, considerations with respect to liquidity and capital planning and changes in applicable law or regulation and adverse regulatory developments. Should one or more of these risks or uncertainties materialize, they could cause our actual outcomes to differ materially from the forward-looking statements. We are not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements. ©Copyright Galaxy Digital 2025. All rights reserved.
Yahoo
18-04-2025
- Business
- Yahoo
Bybit To Shut Down Several Web3 Services by May 2025 Following $1.4 Billion Hack and Strategic Overhaul
Bybit is shutting down a major portion of its Web3 portfolio, including its NFT marketplace, wallets, and several decentralized services. The company announced that it will end support for the Cloud Wallet and Keyless Wallet by May 31, 2025, along with services like DEX Pro, Swap & Bridge, NFT Pro, the fiat-to-crypto on-ramp, the inscription marketplace, and its access point to the Apex Pro derivatives DEX. ApeX was already discontinued on April 8. The Cloud Wallet is a hosted custodial wallet, while the Keyless Wallet is a non-custodial solution using multiparty computation. Bybit urged users to transfer all tokens, NFTs, and other assets from these wallets into unaffected options such as the Seed Phrase Wallet or Bybit Funding Account. Users of the Keyless Wallet will be able to export their private keys and continue using them independently. Those who do not move their assets before the shutdown may face delays or additional identity verification steps. On April 28, Bybit will also end its Web3 Points program, which previously offered users rewards like fee discounts and airdrop boosts in exchange for on-chain activity. The company is advising users to withdraw assets from all services slated for discontinuation as soon as possible. This large-scale restructuring comes after a $1.4 billion hack earlier this year. The company stated, 'Bybit is Solvent even if this hack loss is not recovered, all of the client's assets are 1 to 1 backed — we can cover the loss.' In response to separate online allegations, Bybit has denied charging $1.4 million to list a token on its platform. According to its announcement, the decision to sunset these services is part of a strategic shift. The company said it plans to concentrate on core offerings and 'optimize our current Web3 product and service offerings.' Although many services are being retired, Bybit confirmed that it will maintain support for the Seed Phrase Wallet, staking features, DApps, and Airdrop Arcade. While scaling down its Web3 operations, Bybit has also introduced new features. It recently integrated Avalon's Bitcoin yield product, which allows users to earn returns by arbitraging on a fixed-rate institutional borrowing platform. Additionally, it partnered with Zodia Custody to provide more secure storage options for digital assets. The shutdown mirrors a similar move by NFT marketplace X2Y2, which cited declining volumes and network issues as the reason for ending its services by April 30. Bybit has not confirmed whether any new products will replace the outgoing ones. The company emphasized that the changes are intended to help users manage assets more independently and securely.
Yahoo
01-04-2025
- Business
- Yahoo
Zodia Custody CFO Jonathan Hugh Left the Crypto Firm Earlier This Year
Zodia Custody's Chief Financial Officer, Jonathan Hugh, has departed the London-based firm earlier this year, the company said. Samuel Howe, the company's former COO, also recently left the crypto custodian, as reported by CoinDesk. 'Jonathan has been a valued member of the Zodia Custody team for the last two years and we remain grateful for his deep expertise, dedication, and guidance during a period of high growth for the company," a spokesperson for Zodia Custody said in emailed comments. "While such transitions are part and parcel of business, our company is continuing to grow. In 2023 Zodia Custody had 97 employees. Today, we have grown to 140 employees globally and 2025 will see us deepen our presence in existing markets and expand into new jurisdictions,' the spokesperson added. Hugh did not respond to a request for comment by publication time. Prior to joining Zodia Custody, Hugh was CFO of crypto market maker GSR. Before digital assets, he worked in commodities for ED&F Man and Noble Group, according to his LinkedIn profile. Zodia Custody is backed by Standard Chartered Bank (STAN), SBI Group, Northern Trust and National Australia Bank (NAB). Read more: Zodia Custody COO Samuel Howe Has Left the Crypto Custodian for Traditional Finance Sign in to access your portfolio
