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

Zodia Custody and SBI are aiming to appeal to institutions interested in crypto investment and adoption.

AccessTimeIconFeb 3, 2023 at 4:05 p.m. UTC
Updated May 9, 2023 at 4:07 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.


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 an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, 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.