BitMEX Joins Zodia’s Off-Venue Settlement Network to Ease Counterparty Risk

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Zodia Custody has integrated the cryptocurrency exchange BitMEX into its Interchange network, allowing institutional clients to trade derivatives while keeping their assets in secure, third-party cold storage. BitMEX Joins Zodia’s Off-Venue Settlement Network to Ease Counterparty Risk Key Takeaways: - Zodia Custody added BitMEX to its Interchange network in Q1 2026 to secure institutional trading. - The move reduces 100% of counterparty risk by keeping assets in cold storage during exchange trading. - Standard Chartered plans to merge Zodia into its internal digital asset arm later in 2026. Mitigating Counterparty Risk Through Asset Mirroring Zodia Custody, the Standard Chartered-backed institutional digital asset platform, has integrated cryptocurrency exchange BitMEX into its Interchange off-venue settlement network. The move allows institutional traders to access BitMEX’s derivatives markets while keeping their underlying assets secured within Zodia’s regulated custody environment. According to a media statement, the integration uses collateral locking and asset mirroring, a process that ensures client funds remain in cold storage and are only moved during final settlement. This architecture is designed to mitigate counterparty risk — a primary concern for Tier 1 institutions following the collapse of several high-profile centralized exchanges in recent years. “In successfully launching BitMEX on the Interchange network, our clients gain direct access to a leading derivatives exchange without compromising custody of their assets,” said Wing Cheah, head of interchange product at Zodia Custody. Cheah noted that the partnership provides professional traders with “peace of mind that their assets remain safely in cold storage until settlement.” Mark Collins, head of custody for BitMEX, said the partnership reinforces the exchange’s commitment to the security and transparency required by professional global clients. Strategic consolidation at Standard Chartered The BitMEX integration comes at a pivotal moment for Zodia Custody. Reports indicate that its majority shareholder, Standard Chartered, is planning a major structural shift to merge Zodia Custody with the bank’s internal digital asset division. According to people familiar with the matter, the bank intends to house its various crypto initiatives under a single umbrella within its corporate and investment banking arm. This consolidation is expected to streamline Standard Chartered’s digital asset roadmap, which currently spans brokerage, custody and tokenization projects. While Zodia Custody — which also counts SBI Holdings and National Australia Bank as investors — operates as a standalone entity, the internal merger suggests a deeper integration of digital asset infrastructure into traditional banking workflows. It is anticipated that Zodia will continue to offer its software-as-a-service (SaaS) custody solutions to external clients even as it becomes more central to Standard Chartered’s core digital strategy. The addition of BitMEX, the pioneer of the perpetual swap, marks a significant liquidity boost for the Interchange network. The platform has become a focal point for Zodia’s growth strategy, acting as a bridge for institutions that require the liquidity of centralized exchanges but the safety of third-party, bank-grade custody. The service is currently available to eligible institutional and professional clients through Zodia Custody Limited (UK) in select jurisdictions, signaling a continued push for regulated market infrastructure in the first half of 2026. Standard Chartered to Fold Zodia Custody Into CIB Crypto Division Standard Chartered to Fold Zodia Custody Into CIB Crypto Division Standard Chartered is moving to absorb the core crypto custody operations of its majority-owned subsidiary Zodia Custody into the bank's… Read NowStandard Chartered is moving to absorb the core crypto custody operations of its majority-owned subsidiary Zodia Custody into the bank's…

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