Zodia Custody said on September 14 that Maple has joined Interchange, its institutional settlement network, allowing clients to access on-chain credit without transferring pledged assets directly to the lender.
Under the arrangement, collateral remains in a dedicated wallet within the borrowing institution’s segregated Zodia Custody environment throughout the loan term. Maple provides the credit, while its control over the collateral is limited to enforcing a security interest following a default or another event agreed in advance.
Bitcoin, wrapped Bitcoin, Ether and Solana will be accepted as collateral at launch.
Separating custody from credit
The structure separates asset custody from loan provision. It is designed for institutions whose internal mandates or regulatory obligations require digital assets to remain with an approved custodian while being used as collateral.
Zodia Custody said clients will retain visibility over their holdings, while pledged assets remain separate from the lender’s balance sheet. Institutions can therefore raise financing against their digital-asset positions without selling them or relinquishing custody during the loan term.
Interchange was initially developed to allow institutions to deploy assets across trading venues while keeping them in custody until settlement. The integration with Maple extends that model from trading and settlement into digital-asset financing.
“Institutions can raise liquidity against assets they already hold, keep those assets in segregated custody with the controls and reporting their auditors expect, and access a credit market that was previously closed to them on those terms,” said Anoosh Arevshatian, chief product officer at Zodia Custody.
Arevshatian added that Maple’s participation indicates that on-chain credit infrastructure is increasingly being structured around requirements institutional risk teams can evaluate and approve.
Institutional access to on-chain credit
Sid Powell, chief executive and co-founder of Maple, said institutional borrowers want access to on-chain credit without changing how their assets are held.
“With Interchange, Maple is making its credit markets available to institutions whose collateral stays with their own custodian for the whole term of the loan,” Powell said.
Maple will become a financing counterparty for Interchange clients, joining a network that already connects trading, brokerage and settlement venues through a single integration.
Maple describes itself as an on-chain asset manager that provides underwritten lending strategies to capital providers and institutional borrowers. The company said it has originated more than $25 billion in loans since 2019 and currently manages $4.8 billion in assets.
Zodia Custody provides institutional custody, treasury and settlement services. Its shareholders include Standard Chartered, Northern Trust, SBI Holdings, Emirates NBD and National Australia Bank. Service availability and regulatory status vary by entity and jurisdiction.
