Marathon Digital Chooses Zodia Custody for Bitcoin Storage Services
Marathon Digital, one of the world's largest publicly listed Bitcoin miners, has chosen Zodia Custody for its digital asset custody services outside the United States.
Zodia Custody recently joined Metaco’s global crypto storage network to offer companies easy access to crypto storage and settlement with robust security measures.
In an announcement on April 29, Marathon Digital Holdings revealed its selection of Zodia Custody, which is backed by Standard Chartered, SBI Holdings, and Northern Trust. This decision comes as Marathon Digital plans to expand its Bitcoin mining operations in response to reduced rewards following Bitcoin halving events.
The partnership with Zodia Custody adds a valuable layer of diversification to Marathon’s custody solutions and enhances risk management with features like insolvency-remoteness and secure cold-wallet storage.
Julian Sawyer, CEO of Zodia Custody, expressed confidence in the partnership, highlighting shared values and ambitions for the future of the ecosystem. Zodia Custody’s compliance and reputation as a leading institutional digital asset custody provider were key factors in Marathon’s decision.
READ MORE: Marathon Digital Boosts Bitcoin Mining Target to 50 EH/s
Standard Chartered’s Zodia Custody serves institutional clients across various industries, including digital asset mining. Salman Khan, CFO at Marathon Digital, sees this partnership as a strategic step to support the growth of the ecosystem.
Miners anticipate that the ongoing Bitcoin price rally in this bull market will provide them with the necessary capital to expand their operations, despite reduced block rewards following Bitcoin halving events.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
