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NAB Ventures takes a stake in bank-backed global digital asset custodian Zodia Custody

Investment from NAB Ventures sees Zodia Custody secure a fourth major financial institution to back the digital asset custodian globally

Sydney, Australia — 19 June 2024 — Zodia Custody, the leading, global institution-first digital asset custodian, has announced an investment from NAB Ventures, the venture arm of National Australia Bank (NAB). The investment now means that Zodia Custody is backed by four major financial institutions around the world, building on previous investments from Standard Chartered, Northern Trust and SBI Holdings.

“As a trusted financial institution, NAB is focused on ensuring the finance sector continues to provide simple, safe and secure services for Australians. This is particularly important in newer fields where technology continues to evolve quickly,” said Amanda Angelini, Managing Director, NAB Ventures. “NAB Venture’s investment in Zodia was based on a range of factors including their innovative approach, institution-grade safety and strong work with regulators. We look forward to seeing Zodia Custody drive further innovation in the digital assets space.”

The investment from NAB Ventures is a vote of confidence in the potential Zodia Custody offers in providing a safe and secure foundation for the digital asset ecosystem both locally in Australia and on a global scale. The investment follows Zodia Custody establishing its Australia operations in late 2023, as part of the custodian’s plan to further extend its geographical reach and investment into the APAC region.

“Zodia Custody is the next level up — for me, for institutions, and for the Australian digital asset ecosystem,” said Kate Cooper, CEO, Zodia Custody Australia. “The investment from NAB is another great endorsement of our mission and vision. But more than that, it signifies a turning point, with institutions and infrastructure providers jointly building the mainstream future of digital assets, without compromise.”

Following the investment, key immediate priorities include onboarding Australia’s unique ecosystem of home-grown digital asset exchanges, many of whom are moving assets onto the Zodia Custody platform in preparation for stricter regulatory requirements expected to come into effect in 2025. Zodia Custody is also priming itself as the custodian of choice for applicants of anticipated digital asset ETFs awaiting approval from the ASX.

“We are extremely grateful to NAB Ventures for their support in our vision to build a better institutional digital asset infrastructure. It’s a true vote of confidence,” said Julian Sawyer, CEO, Zodia Custody. “Incoming regulations will significantly change the landscape, similar to what we have seen in Hong Kong and Japan. This likely includes the segregation of assets, and requirements to hold them in cold storage — areas we are already way ahead of the curve on, having built our custody model on these principles while ensuring real-time access to move at the speed of the market and the highest levels of security.” 

Sawyer adds: “Combined with the prospect of digital asset ETFs, Australia is set to enter an unprecedented period of innovation and adoption. We are here and ready to support institutions on that journey.”

—ENDS—

Media contact
Gallium Ventures
Email: zodia@galliumventures.com

Gallium Ventures
Gallium Ventures