Zodia Custody Partners with OpenEden to Launch Staking Services in Singapore

On Tuesday, September 19, the Standard Chartered (STAN) affiliate company Zodia Custody revealed plans to introduce staking services.The report illustrated that the Zodia team has partnered with OpenEden, a Singapore-based crypto asset solution provider, to debut staking services dubbed, “Zodia Custody Yield.”

The new platform will allow users to earn substantial returns from their crypto investment. In a press release, Zodia and the OpenEden team agreed to explore ways to link traditional finance to the crypto sector.

Zodia Custody Partners with OpenEden

The announcement came a day after Zodia Custody opened a shop in Singapore. During the launch, the Zodiac team admitted that the suitability of Singapore’s crypto sector inspired the firm to expand its crypto custodial services to the region.

The report indicates that Kai Kano, the former managing director at Bitgo, will lead the new office. The expansion to Singapore will enable Zodia to broaden its geographical presence and positively impact financial institutions. Through the partnership with OpenEden Zodia aims at tokenizing real-world assets, including treasury bills.

Additionally, the two companies intend to provide the crypto community an opportunity to earn returns from digital assets through staking.

Benefits of Crypto Staking

The staking practice enables the customers to be more active in the crypto industry by invest their digital assets to support the operation of the blockchain network. In return, the investor will be rewarded according to his staking capabilities.

Besides the staking service, the partners agreed to develop a product that blends with the needs of the institutional clients. The Zodia team admitted that the institutional clients had demanded low-risk and transparent digital assets for the past few months.

Also, institutional clients have been demanding products of low liquidity. With the ever-changing nature of the institutional clients needs the Zodia team has revealed plans to explore ways to create value to the customers.

Overview of Institutional Clients Needs

An announcement conveyed by the co-founder of OpenEden, Jeremy Ng, revealed that the crypto proponents had invested assets worth billions in stablecoin. Owning billions of digital assets the executive noted that the stablecoins could be reinvested to increase the value of investment and generate more returns.

Ng pointed out that the partnership with Zodia seeks to provide institutional clients with multiple ways to optimize their investments. He mentioned that OpenEden and Zodia plan on tokenizing the financial products safely and transparently.

A review of the process of tokenizing financial products  demonstrated that the proposed tokenization of asset will benefit the institutional clients. In support of this, the chief executive of Zodia Custody, Julian Sawyer, demostrated the possibility of migrating that some of the conventional finance elements  to the crypto sector through tokenization.

Also the CEO stated that the Zodia team plans to broaden its market presence to regions with fast-paced financial centers with  functional regulatory framework.

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