Emirates NBD’s Innovation Fund invests in Zodia Custody

Emirates NBD invests in Zodia Custody
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By Arya M Nair, Official Reporter
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Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has invested in Zodia Custody, a prominent institution-first digital asset custodian.

The strategic equity investment was made by Emirates NBD’s Innovation Fund, the bank’s corporate venture fund. Created in 2023, the fund strengthens the bank’s digital ambitions and regional expertise in synergy with the agility and technological innovations of FinTech companies.

Headquartered in London, Zodia Custody tailors digital asset custody solutions for institutional clients in alignment with regulatory requirements, ensuring institutions can make informed investment decisions according to market trends with the highest levels of security. Emirates NBD’s investment in Zodia Custody marks a monumental step forward for the firm and reinforces its vision for the future of digital assets.

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Marwan Hadi
Group Head
Retail Banking & Wealth Management
Emirates NBD

Our strategic investment in Zodia Custody reflects our commitment to creating an environment where digital asset trading venues and forward-thinking institutions can interact safely, securely and without compromise. FinTech is changing the institutional landscape rapidly and we want to ensure our ongoing support to emerging technologies to bolster this growth by bridging the gap between financial services and digital assets.”

Marwan Hadi added that, “Our investment is significant in light of the UAE’s progressive approach to digital asset regulation and its ambition to become a global innovation and technology hub. Additionally, it aligns with the Dubai Economic Agenda D33 which envisages the Emirate among the top four global financial hubs and a preferred capital market in the Middle East, Africa and South Asia region.”

Julian Sawyer, CEO of Zodia Custody, said that, “As the fifth bank to cast a vote of confidence in our proposition, we are beyond grateful to Emirates NBD for placing their trust in us. This investment is a monumental step forward, paving the way for Zodia Custody to become a leading player globally.”

Alex Manson, CEO of Standard Chartered Ventures, commented that, “Emirates NBD’s investment marks the fifth TradFi institution supporting our Digital Assets venture Zodia Custody. As we build an ecosystem of infrastructure to operate Digital Assets at institutional grade, we are grateful for this recognition, support and most importantly look forward to our partnership.”

The Innovation Fund targets investment in a wide range of stages for the Group, from early to growth, with the aim of delivering strategic benefits and realizing long-term returns from investments. The purpose of the Innovation Fund is to support the organization’s ambitions to be at the forefront of innovation, key industry trends including disruptions and continue to offer customers best-in-class digital experiences.

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