SBI Digital Asset Holdings announced on February 3 that it will establish a joint venture with Zodia Custody, established by SC Ventures, the venture investment and incubation division of Standard Chartered Bank, a major British bank. Based in Japan, it will provide crypto asset custody (management and storage) services for institutional investors.
In Japan, the lack of regulation-compliant institutional-grade custody services has been pointed out as a bottleneck in the entry of institutional investors into crypto assets.
Zodia, which has also received investment from US asset management giant Northern Trust, is based in London and provides crypto asset custody services for institutional investors around the world.
｜Text and editing: coindesk JAPAN editorial department
｜ Top image: Zodia Custody website (capture)