StanChart-Backed Zodia and LMAX Digital to Provide CoinShares With Crypto Trading Infrastructure

A trio of European cryptocurrency firms are teaming up to bolster their digital asset trading offering to institutions.

Crypto exchange LMAX Digital and Standard Chartered-backed custodian Zodia Custody are to provide institutional-grade trading infrastructure and custody to digital asset manager CoinShares (CS.ST), according to an emailed announcement on Wednesday.

CoinShares will make use of LMAX's trading capabilities and Zodia's Interchange product, which allows clients to keep their assets on its platform, while their holdings are mirrored and available on an exchange for trading.

The three firms' aim is to offer institutional adopters with the trading infrastructure, security and governance that they would expect in the traditional finance world, thereby assuaging concerns about the digital asset industry heightened by the events of the past year.

"This joint effort with Zodia Custody and LMAX Digital is aligned with our long-term strategy," CoinShares CEO Jean-Marie Mognetti said. "We are committed to shape a reference standard for digital asset management."

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