Zodia Custody, a digital asset management company backed by major banks, NAB VenturesThe venture arm of National Australia Bank (NAB), for an undisclosed sum.
With this investment, NAB Zodiac CustodyOther major financial institutions include Standard Chartered, Northern Trust and SBI Holdings.
NAB Ventures’ involvement highlights the potential Zodia Custody has in providing a secure foundation for the digital asset ecosystem both in Australia and globally.
This follows Zodia Custody’s establishment of an Australian operation in late 2023, marking a strategic expansion into the APAC region.
With this investment, Zodia Custody seeks to join Australian digital asset exchanges, many of which are moving their assets onto the Zodiac Custody platform ahead of 2020. Tighter regulatory requirements Expected in 2025.
The custodian has also positioned itself as a preferred choice for prospective digital asset ETF applicants awaiting approval from the Australian Securities Exchange (ASX).
Julian Sawyer
“Future regulation will change the landscape significantly, similar to what we have seen in Hong Kong and Japan. This will likely include asset segregation and cold storage requirements, but we are already far ahead of others in these areas because we have built our storage model around these principles, providing real-time access at market speed and ensuring the highest levels of security.”
“Coupled with the prospect of digital asset ETFs, Australia is poised to enter an era of unprecedented innovation and adoption, and we stand ready to support institutions on that journey.”
Zodia Custody CEO Julian Sawyer said:
Amanda Angelini
“As a trusted financial institution, NAB is focused on ensuring the financial sector continues to provide simple, safe and secure services to Australians, which is particularly important in new areas where technology continues to evolve rapidly.”
NAB Ventures’ investment in Zodia is based on a number of factors, including the company’s innovative approach, institutional-grade security and strong collaboration with regulators. We look forward to seeing Zodia Custody drive further innovation in the digital asset space.”
“NAB Ventures is excited to partner with NVIDIA to bring the power of blockchain to the market,” said Amanda Angelini, managing director at NAB Ventures.
