Zodia Custody Launches Digital Asset Custody Platform in Australia
Zodia Custody has announced the launch of a new digital asset custody platform specifically designed for institutional clients in Australia. The platform serves as a portal that connects institutions to digital asset exchanges and provides secure storage for their assets in bank-grade cold wallet storage. The company aims to provide safe and secure access to digital assets for institutions while increasing their exposure in a responsible manner.
Zodia Custody CEO Julian Sawyer emphasized the significance of expanding into Australia, citing that approximately 26% of Australians currently hold digital assets worth $21.6 billion. Responsible institutional adoption is crucial for ensuring the safety and security of the growing industry. Institutions require bank-grade infrastructure to participate responsibly.
Collaboration with Australia’s Largest Business Bank
As part of its launch in Australia, Zodia Custody collaborated with NAB, the country’s largest business bank, to test the bank-grade specifications of its SAF3 platform. Over a nine-week period, NAB assessed Zodia’s integration and compliance capabilities, technology, and governance processes. NAB Chief Innovation Officer Howard Silby praised Zodia’s unique approach to real-time air-gapped cold wallet capability and its all-in-one digital assets platform experience.
Zodia Custody, whose shareholders include Standard Chartered, SBI Holdings, and Northern Trust, is the first bank-backed digital asset custodian to be registered with the UK’s Financial Conduct Authority. This expansion into Australia follows the company’s recent entry into the Singapore market in September.
Hot Take: Zodia Custody Expands Access to Digital Assets in Australia
Zodia Custody’s launch of a digital asset custody platform in Australia opens up new opportunities for institutional clients to securely engage with digital assets. With a significant number of Australians already holding digital assets, the expansion aims to meet the growing demand for safe and secure storage solutions. By collaborating with NAB, the largest business bank in Australia, Zodia Custody demonstrates its commitment to providing bank-grade infrastructure and compliance capabilities. As the first bank-backed digital asset custodian registered with the UK’s Financial Conduct Authority, Zodia Custody continues to establish itself as a trusted player in the industry.
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