BitMEX Joins Zodia Interchange, Keeps Assets in Cold Storage

Zodia Custody integrated the cryptocurrency exchange BitMEX into its Interchange off-venue settlement network in the first quarter of 2026. The setup allows eligible institutional and professional clients to execute trades on BitMEX while their underlying assets stay in Zodia’s regulated cold storage until final settlement.

The platform uses collateral locking and asset mirroring. Collateral locking reserves client funds for a trade without moving them out of cold storage. Asset mirroring creates a trading representation on the exchange so orders can be executed without transferring custody until the trade is settled.

Zodia made the integration available through Zodia Custody Limited (UK) in select jurisdictions. Interchange connects institutional traders to centralized exchange liquidity while custody remains with a third-party, bank-grade provider rather than the exchange’s hot wallets.

Zodia Custody is backed by Standard Chartered and counts investors including SBI Holdings and National Australia Bank. People familiar with the matter said Standard Chartered plans to merge Zodia into the bank’s internal digital asset division later in 2026, bringing custody, brokerage and tokenization efforts under the corporate and investment banking arm. Zodia is expected to continue offering its software-as-a-service custody solutions to external clients after the consolidation.

Wing Cheah, head of interchange product at Zodia Custody, said, “In successfully launching BitMEX on the Interchange network, our clients gain direct access to a leading derivatives exchange without compromising custody of their assets,” adding that the arrangement gives professional traders “peace of mind that their assets remain safely in cold storage until settlement.”

Mark Collins, head of custody for BitMEX, described the collaboration as reinforcing the exchange’s focus on security and transparency for professional global clients.

The integration addresses institutional concerns about counterparty exposure following several high-profile exchange failures. By keeping assets in cold storage and only transferring them during final settlement, Zodia and BitMEX provide a trading workflow that separates execution from custody while preserving settlement on the exchange.