by Fintech Information Singapore
June 19, 2024
Zodia Custody, a digital asset custodian backed by main banks, has secured an fairness stake funding from NAB Ventures, the enterprise arm of Nationwide Australia Financial institution (NAB). The sum was not disclosed.
This funding sees NAB becoming a member of Zodia Custody‘s different main monetary backers akin to Commonplace Chartered, Northern Belief, and SBI Holdings.
NAB Ventures’ involvement underscores the potential Zodia Custody holds in offering a safe basis for the digital asset ecosystem each in Australia and globally.
This follows Zodia Custody’s institution of Australian operations in late 2023, marking a strategic growth into the APAC area.
With this funding, Zodia Custody goals to onboard Australian digital asset exchanges, a lot of whom are transferring belongings onto the Zodia Custody platform in preparation for stricter regulatory necessities anticipated in 2025.
The custodian can also be positioning itself as the popular alternative for candidates of potential digital asset ETFs awaiting approval from the Australian Securities Alternate (ASX).
Julian Sawyer
“Incoming rules will considerably change the panorama, just like what we’ve got seen in Hong Kong and Japan. This probably contains the segregation of belongings, and necessities to carry them in chilly storage — areas we’re already method forward of the curve on, having constructed our custody mannequin on these rules whereas making certain real-time entry to maneuver on the velocity of the market and the very best ranges of safety.
Mixed with the prospect of digital asset ETFs, Australia is ready to enter an unprecedented interval of innovation and adoption. We’re right here and able to help establishments on that journey.”
stated Julian Sawyer, CEO, Zodia Custody.
Amanda Angelini
“As a trusted monetary establishment, NAB is targeted on making certain the finance sector continues to offer easy, protected and safe companies for Australians. That is significantly vital in newer fields the place expertise continues to evolve shortly.
NAB Enterprise’s funding in Zodia was based mostly on a spread of things together with their modern strategy, institution-grade security and robust work with regulators. We sit up for seeing Zodia Custody drive additional innovation within the digital belongings area.”
stated Amanda Angelini, Managing Director, NAB Ventures.