Zodia Custody announced a $36 million round of funding led by Japan’s SBI Holdings. This brings the total funds raised to $68 million. UK-based Zodia Custody was founded as a digital asset joint venture between Standard Chartered and Northern Trust, which had a 5% interest in the venture before today. The target market is institutional investors.
SBI said that with the investment, “we believe that we can further promote and expand the global corridor strategy of digital assets, which is our business strategy.” The deal is potentially significant for Zodia. For example, SBI has a joint venture in Singapore with Switzerland’s SIX for AsiaNext, a digital asset trading venue that does not provide custody.
In February, SBI Digital Asset Holdings formed a joint venture with Zodia to create a Japanese institutional custodian, with SBI owning 51%.
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