Zodia Custody, a London-based crypto asset servicing provider for institutional investors, has established a joint venture with SBI Digital Asset Holdings (SBI DAH) in Japan.
The joint venture, with SBI DAH holding a 51% interest and Zodia Custody owning the remaining 49% stake, will act as a crypto assets custodian targeting institutional clients. It is subject to anti-trust and foreign direct investment clearances and licences from the Financial Services Agency.
Through the joint venture, the two firms aim to expand their market presence and increase their ability to provide custody and ancillary services for crypto assets to institutional clients.
Zodia Custody, a subsidiary of Standard Chartered with backing from Northern Trust, offers services to clients across the globe – enabling institutions to invest safely in crypto assets. SBI DAH oversees and operates digital asset-related businesses under the umbrella of SBI Holdings.