National Australia Bank’s venture capital arm, NAB Ventures, has invested in Zodia Custody, a move that highlights the growing
acceptance of cryptocurrency solutions in the traditional banking framework.
Zodia Custody’s Australian Expansion
Zodia Custody, a platform known for its
institution-grade cryptocurrency and digital asset safekeeping, established its
operations in Australia in late 2023. According to Coindek, the exact amount of
NAB Ventures’ investment remains undisclosed.
Following the investment, Zodia Custody is focusing on
onboarding Australia’s unique ecosystem of home-grown digital asset exchanges.
Many of these exchanges are transitioning their assets to the Zodia platform in
anticipation of stricter regulatory requirements expected to be implemented by
2025.
Zodia Custody is also supported by major financial
players such as Standard Chartered, Northern Trust, and SBI Holdings. This
latest move is part of Zodia’s broader strategy to become the custodian of
choice for digital asset ETFs awaiting approval from the Australian Securities
Exchange (ASX).
Expect ongoing changes as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
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