Zodia partners SBI DAH for Japan-based crypto custodian venture
Zodia, an institutional cryptocurrency custody firm backed by Standard Chartered, has partnered with SBI Digital Asset Holdings (SBI DAH) to launch a Japan-based crypto asset custodian for institutional clients.
Zodia partners SBI DAH for Japan-based crypto asset custodian venture
The joint venture, SBI Zodia Custody, is owned 51% by SBI DAH and 49% by Zodia Custody, and will address a “bottleneck” that has held back institutions from participating in the cryptosphere, the firms say.
The venture, the “first tier 1 crypto asset custodian for institutions in Japan”, will allow both groups to expand their market presence and boost their ability to provide custody services and other ancillary services for crypto assets to institutional clients.
Julian Sawyer, CEO of Zodia Custody, says: “Partnering with SBI DAH ensures the joint venture will offer gold-standard crypto asset custody services in Japan.”
Fernando Luis Vazquez Cao, CEO of SBI DAH, says the joint venture is built on a “shared alignment” regarding market regulations for digital assets and is a “unique global proposition” for institutional clients.
Founded in 2020, Zodia Custody is headquartered in London and provides custody for crypto assets allowing institutions to invest “safely” in the emerging asset class.
The firm is a joint venture between Standard Chartered and Northern Trust and is regulated by the UK’s Financial Conduct Authority (FCA).
