Zodia Custody, SBI Digital Asset Holdings Partner to Form a Joint Venture in Japan

Zodia Custody Limited, a leading crypto asset servicing provider for institutional investors and a subsidiary of Standard Chartered, and SBI Digital Asset Holdings Co., Ltd. (“SBI DAH”) announce that they have entered into definitive agreements to launch a joint venture - SBI Zodia Custody - in Japan. SBI DAH is a company that oversees and operates digital asset-related businesses, under the umbrella of SBI Holdings.

The joint venture will act as a Japan-based crypto assets custodian, targeting institutional clients. The joint venture is owned 51% by SBI DAH and 49% by Zodia Custody. It will allow both groups to expand their existing markets presence and increase their ability to provide custody services and other ancillary services for crypto assets to institutional clients.

Julian Sawyer, CEO of Zodia Custody, says: “At Zodia Custody, we intend to partner with the best in the world to expand our institutional custody offering. Partnering with SBI DAH ensures the joint venture will offer gold-standard crypto asset custody services in Japan. Zodia Custody is both proud and excited to be working with SBI DAH to help set up SBI Zodia Custody; the first tier 1 crypto asset custodian for institutions in Japan.”

Fernando Luis Vazquez Cao, CEO of SBI DAH, comments: “We are delighted to have built a relationship with Zodia Custody. We believe our partnership with Zodia is a unique global proposition to institutional clients, supporting our vision to become a pioneer and global trusted partner in the financial industry. We are excited with the path ahead of us.”

(Source: Finextra)