Zodia Custody has expanded its partnership with Deribit by Coinbase, introducing automated off-exchange settlement for the crypto derivatives venue through Zodia’s Interchange network. The companies describe the update as a shift from manually coordinated processes to an API-driven model governed by the Interchange Rulebook.
According to the announcement, the Interchange network applies delivery-versus-payment logic via its on-chain engine, enabling asset transfers only when both sides of the settlement are met. The setup is aimed at reducing settlement risk while making the process more predictable and transparent for institutional users. The automation covers the full settlement flow, with Interchange providing an auditable record of activity.
Deribit clients using Zodia Custody will have trades settled in intraday net batches. Wallet balances update automatically after each cycle, and gas fees are handled within the workflow. Client assets remain in Zodia’s cold, air-gapped custody until settlement occurs, with all trading vaults created on a per-client, per-venue basis. Movements are verifiable on-chain, and assets are not pooled, explains Zodia Custody.
Retaining custody control
Zodia Custody frames the development as part of its effort to provide institutions with infrastructure that lets them trade while retaining custody control. Deribit notes that the integration adds automated and secure settlement features to its platform.
Both firms state that they plan to continue expanding their joint services for institutional activity in digital asset markets.
