Zumo, a UK digital assets firm, and SaaScada, a cloud-native core banking provider, have partnered to help UK banks and wealth managers integrate regulated digital asset services into their existing banking propositions ahead of the country’s new digital asset regulatory framework, expected to take effect in October 2027.

Under the partnership, Zumo will provide the digital asset capabilities, including custody, trading and know-your-customer (KYC) and anti-money laundering (AML) checks. The firm is registered with the Financial Conduct Authority (FCA) as a cryptoasset business. SaaScada will handle the associated cash accounts, allowing customers to fund digital asset purchases and receive proceeds when selling their holdings.

The companies aim to bring more digital asset activity into established banking relationships. FCA figures indicate that digital asset ownership has become widespread among UK adults, yet many customers continue to hold and trade their assets through external exchanges rather than their existing financial providers.

By integrating digital asset services, banks and wealth managers could generate additional revenue and strengthen customer relationships by retaining activity that might otherwise take place on third-party platforms. The partnership is also intended to reduce implementation times by providing infrastructure that is already connected, rather than requiring firms to undertake lengthy development projects.

Customers would be able to view their cash and digital asset holdings together, while payment activity could be monitored in real time alongside other banking transactions.

The offering is available immediately to banks, FinTechs, neobanks and wealth managers serving UK customers. It can be tailored to each institution’s existing proposition rather than delivered as a standard package, as the UK prepares for its forthcoming regulatory framework for digital asset activities.

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