Zodia Custody, a prominent institutional cryptocurrency custody service co-founded by Standard Chartered, has expanded its offerings to include The Open Network’s (TON) Jetton token standard. This breakthrough enables institutions to safely store and manage Jetton-based assets, boosting TON blockchain adoption in the institutional sphere.
The first asset to benefit from this integration is STON, the governance token for the decentralized exchange Ston.fi. This discovery comes as institutional investors increasingly seek secure storage options for their blockchain-based investments.
Jetton tokens behave similarly to Ethereum’s ERC-20 tokens, allowing for the development and management of bespoke currency on the TON blockchain. The platform’s quick transaction times, minimal costs, and scalability make it an appealing choice for projects releasing digital assets.
We developed the integration in collaboration with Ston.fi and its investor, CoinFund, who sought a dependable custody service for their STON assets. CoinFund’s partnership with Zodia Custody provides access to comprehensive security mechanisms and 24/7 asset availability, assuring institutional-grade protection for its digital assets.
Zodia Custody noted that this step is consistent with its commitment to meeting the increasing needs of institutional investors in the cryptocurrency market. The connection increases financial organizations’ flexibility in managing blockchain assets and supports broader adoption of the TON ecosystem.
According to Martin Masser, Chief Business Development Officer at Ston.fi, institutional investors have long sought dependable custody options for Jetton tokens. Zodia’s backing now closes the gap, allowing a broader spectrum of investors to investigate decentralized finance (DeFi) potential on the TON blockchain.
As more institutional actors enter the cryptocurrency industry, secure and compliant custody solutions will continue to play an important role in driving adoption. With large financial institutions and investment organizations showing a rising interest in blockchain-based assets, the integration of TON’s Jetton token standard represents another step toward widespread adoption.
