London—Zodia Custody said on April 21 that BitMEX has joined Interchange, its off-venue settlement network for institutional and professional digital asset clients.
The integration makes BitMEX the latest trading venue available to clients of Zodia Custody Limited in the UK. It allows eligible users to access BitMEX trading services while their assets remain held with Zodia Custody rather than being transferred directly to the exchange.
Interchange is designed to reduce counterparty risk by separating custody from trading activity. The network uses collateral locking and asset mirroring, allowing assets to be reserved for trading purposes while remaining under custody until settlement.
The arrangement reflects a broader shift in institutional crypto markets, where investors and trading firms are seeking access to centralised exchanges without leaving large balances on trading venues. Off-venue settlement models have gained attention following concerns over exchange counterparty exposure in the digital asset sector.
Wing Cheah, head of Interchange product at Zodia Custody, said the BitMEX integration gives clients access to a derivatives exchange while maintaining custody controls over their assets.
Mark Collins, head of custody at BitMEX, said the partnership supports the exchange’s efforts to serve professional clients with additional custody and settlement options.
BitMEX, known for its role in developing crypto derivatives markets and the perpetual swap, is now available through Interchange to eligible clients in selected jurisdictions. Zodia Custody said the service is supported by Zodia Custody Limited in the UK and is aimed at institutional and professional clients.
