National Australia Bank’s venture arm, NAB Ventures, invests in Zodia Custody, a digital assets safekeeping platform backed by Standard Chartered, Northern Trust, and SBI Holdings. The investment aims to support Australia's unique digital asset ecosystem and upcoming ETF issuers.
In a strategic move to enhance the security and regulation of digital assets in Australia, NAB Ventures, the venture arm of National Australia Bank, has invested in Zodia Custody. This institution-grade cryptocurrency safekeeping platform, already backed by financial giants like Standard Chartered, Northern Trust, and SBI Holdings, aims to fortify its presence in the Australian market.
Key Points:
Strategic Investment: NAB Ventures' undisclosed investment supports Zodia Custody's expansion into Australia, where it began operations in late 2023.
Institutional Support: Zodia Custody, known for its institution-grade safety and regulatory compliance, is backed by Standard Chartered, Northern Trust, and SBI Holdings.
Focus on Local Digital Exchanges: Immediate priorities include integrating Australia's unique ecosystem of home-grown digital asset exchanges onto the Zodia platform.
Preparation for Regulatory Changes: Zodia Custody is gearing up for stricter regulatory requirements expected in 2025, aiming to be the custodian of choice for digital asset ETF applicants.
NAB Ventures' Commitment: NAB Ventures highlights Zodia's innovative approach and strong regulatory work as key reasons for their investment.
NAB Ventures' investment in Zodia Custody marks a significant step towards strengthening the digital asset infrastructure in Australia.
By focusing on secure, regulatory-compliant solutions for digital asset exchanges and ETF issuers, this partnership aims to foster a safer and more robust cryptocurrency market in the region.
As regulatory frameworks evolve, Zodia Custody is poised to play a pivotal role in shaping the future of digital asset management in Australia.
Source: Coindesk
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