Zumo, will handle the crypto side, from custody and trading to Know Your Customer and Anti-Money Laundering checks on behalf of banks and wealth management firms while, SaaScada runs the cash accounts that fund purchases and receive sale proceeds.

Through the partnership, banks and wealth managers  will be able to launch a regulated crypto offering on infrastructure that is already built and connected, rather than committing to a multi-year build, give clients one view of their cash and crypto, and track every payment in and out in real time, alongside the rest of the client’s banking.

Nick Jones, Founder and chief executive at Zumo, said: “The UK is bringing cryptoassets within the FCA’s regulatory remit, with a comprehensive regime set to take effect in October 2027. This is a game changer for our sector, unlocking pent-up institutional demand and helping the UK build its position as a leading digital assets hub. The question banks and wealth managers are asking has shifted from whether to offer digital assets to how fast they can move.”

Regulatory developments are baked into our architecture rather than added as an afterthought, which is what an institution needs when it moves on digital assets. Working with SaaScada means a bank or wealth manager can bring regulated crypto services into their proposition without stepping outside the core they’ve already selected.”

Steve Round, co-founder and president of SaaScada, said: “We do one thing, core banking, and we bring in specialists for everything around it. Zumo has done the regulatory and operational work that lets UK institutions offer digital assets with confidence. For a wealth manager or a bank whose clients are already invested elsewhere, that is the difference between those holdings sitting outside the relationship and becoming part of it.”

It comes after the FCA’s Val Smith spoke to Scottish Financial News urging firms to prepare for the UK’s new regulatory regime, warning that crypto-investors will not have access to the Financial Services Compensation Scheme (FSCS) for their digital asset investments.