Zodia Custody Teams Up With SBI Digital Asset Holdings to Form Crypto Custodian in Japan

Zodia Custody Teams Up With SBI Digital Asset Holdings to Form Crypto Custodian in Japan

Spread the love

Consensus 2023 Logo

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Jamie Crawley is a CoinDesk news reporter based in London.

Consensus 2023 Logo

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Cryptocurrency storage provider Zodia Custody is forming a joint venture with Japanese financial services firm SBI Holdings’s crypto arm to set up a crypto asset custodian for institutional investors, the two firms announced on Thursday.

Zodia Custody, which is backed by Standard Chartered and Northern Trust, and SBI Digital Asset Holdings (SBI DAH) are aiming to appeal to institutions interested in crypto investment and adoption but put off by a lack of custodial services that meet the grade of provider in the traditional finance (TradFi) industry.

“Partnering with SBI DAH ensures the joint venture will offer gold-standard crypto asset custody services in Japan,” Julian Sawyer, Zodia’s CEO, said in a statement.

The venture, ownership of which will be split 51%-49% in SBI DAH’s favor, is subject to anti-trust and foreign direct investment clearances, as well as licenses from the Japanese regulator, the Financial Services Agency.


Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas.

By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.

DISCLOSURE

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a

strict set of editorial policies.

CoinDesk is an independent operating subsidiary of

Digital Currency Group,

which invests in

cryptocurrencies

and blockchain

startups.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of

stock appreciation rights,

which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG

.

Jamie Crawley is a CoinDesk news reporter based in London.


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Jamie Crawley is a CoinDesk news reporter based in London.

Tags

Related News

ethereum-hit-by-‘blobscriptions’-in-first-stress-test-of-blockchain’s-new-data-system
ethereum’s-rising-validator-count-is-causing-concerns,-fidelity-digital-assets-says
first-mover-americas:-tokenized-treasury-notes-surpass-$1b