Dubai government-owned bank, Emirates NBD, has made a strategic investment in digital asset custody firm Zodia Custody. Standard Chartered founded Zodia Custody with Northern Trust as a minority investor. They were subsequently joined as shareholders by Japan’s SBI and National Australia Bank (NAB). Dubai and the UAE are embracing cryptocurrencies, with 30% of the population owning them, a figure that’s expected to grow 8% next year.
The investment was made via the Emirates NBD’s Innovation Fund.
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