Digital & Technology

ZEDRA announces entry into Digital Assets Market

Trust, Corporate and Fund Solutions provider ZERDA has announced the launch of its new solutions, which allows users to purchase and sell Bitcoin, facilitated through a partnership with Vo1t, BCB and Constellation Group to provide all the components necessary to trade in digital assets.

ZEDRA expects extensive interest in its new solution from both its existing global client base, alongside those within its existing introducer networks whom have already passed the necessary regulatory vetting process.

John Hunter, the Business Development Director for Zedra, commented that “the buyer’s fiat cash and the seller’s bitcoin will be held to the order of ZEDRA and governed by an innovative tri-partite escrow agreement containing the terms of the transaction.”

He continued that “following proof of funds and verification of the bitcoin and satisfaction of the terms of the arrangement, the transaction concludes. The bitcoin is then transferred to the buyer and this can either be via internet connected hot wallets, or it can be transferred utilising Vo1t’s HSM cold storage custody platform.”

Vo1t is an industry leader in providing secure custody and institutional-grade storage solutions, having been established in 2015. Founded by Miles Parry and Ozan Salih, the company has worked with several prominent firms, including the UK Ministry of Defence, the Financial Conduct Authority, and Goldman Sachs, utilising military-grade encryption to protect their clients’ assets.

Sebastian Higgs, a Director at Vo1t, said of the partnership that “this milestone partnership paves the way for ZEDRA to enter into the digital assets market, further expanding their service offering. As the world’s most secure cold-storage vault for digital assets, Vo1t’s AON-insured solution makes customer security a priority, and protects users against threats in the crypto market, while simultaneously making it possible to return yields on assets held in cold storage. Combined with our partners at Constellation Group and BCB Group, we are thrilled to provide ZEDRA’s valued clients with a regulated point of entry into the digital assets market.”

BCB brings its specialist settlements knowledge to the partnership, utilising payment settlement systems such as EBA, EUROGIRO and Target 2, and its own efficient and cost-effective payment handling processes. Oliver von Landsberg-Sadie, the Founder and Chief Executive Officer of BCB, added that “BCB are proud to participate in this unique opportunity to transact in cryptoassets within a closed loop of gold standard organisations. This partnership forms the ideal gateway for established financial institutions to engage more meaningfully in digital asset markets."

Constellation Group is a leading blockchain specialist firm, which connects businesses to the smart contract economy, and facilitates the automation and improvement of multiparty risk, trust and contract performance through the use of end-to-end building blocks. The company provides smart contracts, oracles, off-exchange trading solutions and custody and compliance services, amongst other solutions; it was founded by Chief Executive Officer Alesh Brown in 2019.

Alongside the launch of its new solution, ZEDRA has announced that Consair Capital, a pioneer private equity investor, has taken a major investment in the company, pending regulatory approval. The companies first entered a strategic partnership in late 2018, during which Consair made a majority investment in ZEDRA, according to a report by International Investment.

Of the partnership, Niels Nielsen, the Co-Founder of ZEDRA, commented that "I am tremendously proud of what we have achieved in the past three years and I am equally optimistic about the future of Zedra. Our new strategic partnership with Corsair creates opportunities for significant development, and Corsair's extensive knowledge and experience in the sector will be invaluable to the team and clients. This is a milestone for Zedra."

ZEDRA ‘s full range of services is designed to preserve and protect the real value of its clients’ assets. It helps and supports clients in unlocking their ambitions for growth and expansion, capitalising on its global footprint to deliver bespoke solutions that meet the local and international requirements of the increasingly demanding regulatory environment.