National Australia Bank (NAB) has invested in Zodia Custody, a digital asset custody platform founded by Standard Chartered Bank (StanChart). This news comes just weeks after NAB closed its own stablecoin project, AUDN, signaling a shift towards facilitating crypto custody for institutional investors.
Zodia Custody, launched in 2023, already boasts clients like Deutsche Bank’s DWS and Marathon Digital. NAB’s investment amount remains undisclosed, but could represent a 3.3% stake based on a recent $5 million capital injection by Zodia’s parent company.
This move aligns with Australia’s growing interest in digital assets. The Australian Securities Exchange (ASX) recently approved the listing of a spot Bitcoin ETF, and the country is currently formulating its own digital asset regulations.
“NAB Venture’s investment reflects Zodia’s innovative approach, strong security measures, and positive engagement with regulators,” said a spokesperson for NAB. “We believe Zodia will be a key player in driving digital asset adoption in Australia.”
Zodia Custody’s CEO, Julian Sawyer, expressed optimism about Australia’s regulatory landscape. “Incoming regulations will likely require segregated assets and cold storage, areas where Zodia Custody excels,” he said.
