The Indian cryptocurrency exchange WazirX is set to relaunch after a significant hack, partnering with Zodia Custody to enhance security and regulatory compliance.
The Significance of Partnering with Zodia Custody
On March 17, WazirX announced its collaboration with Zodia Custody, a firm backed by Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank (NAB), and Emirates NBD. This partnership aims to restore user confidence by providing institutional-grade asset protection.
Zodia Custody’s Role in Asset Security
Zane Suren, Managing Director, Commercial, MEA at Zodia Custody, emphasized the importance of a compliance-first approach. "Zodia Custody is proud to partner with WazirX for their much-anticipated relaunch. Providing our knowledge of supporting institutional clients and commitment to a compliance-first approach, we will empower WazirX and its users to seamlessly engage with digital assets in a way that protects their capital and complies with local regulation."
BitGo Partnership for Additional Security
In addition to its partnership with Zodia Custody, WazirX has announced a collaboration with BitGo through its Singapore-based entity Zettai Pte Ltd. BitGo Trust was selected for its proven track record in digital asset security, aligning with WazirX's broader strategy to strengthen risk management protocols and user confidence in fund security.
The preparation for relaunch with leading partners such as Zodia Custody and BitGo positions WazirX as a more secure and transparent trading platform.
