Zodia Custody Introduces Support for Jetton Tokens, with StonFi's $STON Becoming the First Asset

Per the announcement, this partnership will also help CoinFund manage its investment in the TON blockchain. With the help of Zodia Custody, CoinFund now has a safe

Cryptocurrency custody platform Zodia Custody has announced the addition of institutional custody support for Jetton tokens, a type of token standard used on the TON blockchain. This partnership will see StonFi’s governance token, $STON, become the first asset to be supported.

notably, this partnership will also help CoinFund, a crypto investment firm, manage its investment in the TON blockchain. With Zodia Custody’s assistance, CoinFund will now have a safe and secure method to store its investment in STON tokens.

Standard Chartered created Zodia Custody to assist businesses in securely storing and managing cryptocurrencies. It safeguards digital assets from hacking, fraud, and loss while adhering to stringent financial rules. Banks, investment companies, and large enterprises use its services to enter the crypto market safely with high-security standards.

STON.fi is a decentralized exchange (DEX) on The Open Network (TON). It enables direct wallet-to-wallet cryptocurrency trading without third parties, giving users complete control over their assets.

Trades are executed through liquidity pools using an automated market maker (AMM) system, enabling fast, efficient, and low-cost swaps. Furthermore, liquidity providers can earn rewards by contributing tokens to these pools.

CoinFund is a company that invests in blockchain and cryptocurrency projects, supporting startups that develop decentralized technology, Web3, and digital assets.

Anoosh Arevshatian, Chief Risk Officer at Zodia Custody, spoke about the partnership, stating that supporting STON.fi demonstrates their commitment to providing top-tier custody services. According to Arevshatian, integrating the Jetton token standard into Zodia Custody’s system will allow institutions to hold assets built on TON, thus promoting broader adoption.

Einar Braathen, a partner at CoinFund, highlighted the significance of institutional-grade custody for STON.fi, as it helps attract more investors to the TON Blockchain. Additionally, Martin Masser, Chief Business Development Officer at STON.fi, noted that Zodia’s support for Jetton tokens creates new opportunities for institutional investors who were previously unable to participate in the TON ecosystem.

Over the past year, a increasing number of institutional organizations have entered the cryptocurrency space. Large, established companies and financial institutions are becoming more involved in crypto activities.

Major investment firms like BlackRock and Fidelity, which manage billions of dollars in assets, have launched or expanded their cryptocurrency investment products. BlackRock, for instance, filed for a Bitcoin ETF (exchange-traded fund), allowing traditional investors to gain exposure to Bitcoin without directly owning it.

Moreover, large banks such as JPMorgan have started offering crypto-related services. These services allow clients to buy, hold, or sell Bitcoin and other digital currencies through their platforms. Some banks are also exploring blockchain technology to facilitate faster and cheaper transactions.

Corporations like Tesla and MicroStrategy have also allocated substantial portions of their corporate funds to Bitcoin. This move showcases confidence in crypto as a long-term asset class. At one point, Tesla even permitted customers to purchase cars using Bitcoin.