Zilliqa appoints Onchain Custodian for insured crypto custody services

High-security blockchain platform Zilliqa has announced that it has selected Singapore-based crypto custody service Onchain Custodian to secure its network’s assets.

The Zilliqa ecosystem will benefit from institutional-grade security and insured custody services for its ZIL and ZRC-2 tokens.

Onchain Custodian will be providing support for XSGD, a Singapore dollar-backed stablecoin launched in collaboration with Xfers, the leading fintech payments platform for digital businesses.

Alexandre Kech, CEO at Onchain Custodian, said: “With new financial instruments emerging out of the blockchain space, better infrastructures need to be built with clients’ needs in mind.

“Beyond demands for greater security, our goal is to also bridge the gap between different project ecosystems, enabling clients to benefit from our token agnostic custody services while serving as a reliable liquidity partner.

“As one of the leading blockchain projects in the region, we are thrilled to be partnering with Zilliqa at this time in order to bring greater security and compliance assurances across their ecosystem.”

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Onchain Custodian’s Digital Asset Custody Platform is insured by Lloyd’s of London underwriters and backed by IBM FIPS 140-2 Level 4 Hardware Security Modules.

It is automated, standardised, and will enable Zilliqa, Xfers, and other ecosystem players to deploy their blockchain-based and digital asset solutions to the public with enhanced trust and confidence.

Amrit Kumar, President and Chief Scientific Officer of Zilliqa, added: “As the Zilliqa ecosystem continues to grow, so must our repertoire of security and compliance solutions to ensure that partners, investors, and token holders can safely leverage the benefits of our network.

“With blockchain experiencing increased institutional appeal across Southeast Asia, we are thrilled to partner with Onchain Custodian as they play a vital role in driving the legitimacy of digital assets across the region.”

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