Zodia Custody Integrates TON Jetton Standard to Expand Institutional Crypto Access
Zodia Custody, the institutional crypto custody platform co-owned by Standard Chartered, has officially announced support for native assets on The Open Network (TON) using its Jetton token standard. This marks a significant step in bridging institutional investors with the rapidly growing TON ecosystem. The firm revealed the integration on January 29, stating that the first Jetton-based asset to be supported would be STON, the governance token of decentralized automated market maker Ston.fi. The move was implemented in collaboration with Ston.fi and its backer, CoinFund, a U.S.-based investment firm. What is the Jetton Token Standard? Jetton tokens are custom-built cryptocurrencies on the TON blockchain, operating similarly to Ethereum’s ERC-20 tokens or Solana’s SPL tokens. According to the TON Foundation, Jettons benefit from high-speed transactions, lower fees, and better scalability than competing networks. The standard enables developers to create their own tokens seamlessly within the TON ecosystem, further expanding its decentralized finance (DeFi) capabilities. Also read: Tuttle Capital Files 10 Leveraged Crypto ETFs, Including Trump-Themed Meme Coins Zodia Custody’s adoption of the Jetton standard aligns with its mission to facilitate institutional-grade security and compliance for digital assets. According to Zodia, the move came at the request of CoinFund, which sought secure third-party custody solutions for its STON token investment. “Zodia Custody’s solutions address CoinFund’s need for reliable custodial support for their Jetton token investment allocations,” Zodia stated in its official announcement. CoinFund, which previously led a funding round for Ston.fi in May 2024, now utilizes Zodia’s services, which provide 24/7 asset availability and institutional-grade security. Institutional Interest in TON and DeFi Growth Zodia’s Chief Risk Officer, Anoosh Arevshatian, emphasized the importance of integrating TON’s token standard into the firm’s infrastructure, stating: “Integrating the Jetton token standard into Zodia Custody’s infrastructure increases optionality for the institutions we service by allowing them to hold assets built on TON Blockchain, promoting broader adoption of the TON ecosystem.” Also read: Austrian Fintech Unicorn Bitpanda Secures MiCA License to Operate Across Europe From Ston.fi’s perspective, the addition of institutional custodial support addresses a crucial gap in the market. Martin Masser, Chief Business Development Officer at Ston.fi, highlighted that institutional investors were previously unable to participate in TON-based DeFi due to the lack of secure custody solutions. “With Zodia supporting Jettons, this opens the whole of the TON Ecosystem to investors who were previously unable to get involved. This enables more institutional users to explore DeFi on TON Blockchain,” Masser stated. Conclusion: A Game-Changer for Institutional Adoption on TON The integration of TON’s Jetton standard by Zodia Custody is a pivotal moment for institutional investment in TON’s blockchain ecosystem. With secure custody solutions now in place, more funds and institutional investors may look to enter the TON DeFi space, paving the way for broader adoption and liquidity growth.