Zodia Custody brings top-tier digital asset custody solution to Australia and New Zealand
“Today, an estimated 26% of Australians hold digital assets, totaling the equivalent of $21.6 billion. Responsible institutional adoption is key to ensuring this growing industry is safe and secure for all.”
Zodia Custody, an institution-focused digital asset custodian backed by Standard Chartered, SBI Holdings, and Northern Trust, is set to debut SAF3—billed as Australia’s most secure real-time digital asset custody platform.
The platform will be launched through a new local subsidiary, Zodia Custody Australia, on October 16, 2023.
“An estimated 26% of Australians hold digital assets”
The SAF3 platform is designed for institutional clients in Australia and New Zealand and brings three key features to the market: real-time access to bank-grade cold wallet storage, a single portal for exchange connectivity, and robust security measures including enhanced fraud and scam detection.
Julian Sawyer, CEO of Zodia Custody, emphasized the significance of the Australian expansion. “Today, an estimated 26% of Australians hold digital assets, totaling the equivalent of $21.6 billion. Responsible institutional adoption is key to ensuring this growing industry is safe and secure for all,” he said.
The National Australia Bank (NAB), the country’s largest business bank, has teamed up with Zodia to test the capabilities of the SAF3 platform. Howard Silby, NAB’s Chief Innovation Officer, said, “Over a nine-week period, we tested Zodia’s integration and compliance capabilities, technology, and governance processes. The results were overwhelmingly positive.”
DigitalX is Zodia’s first customer
DigitalX, Australia’s first publicly-listed blockchain company, will be the platform’s first customer. Lisa Wade, CEO of DigitalX, expressed enthusiasm for the new offering, stating, “SAF3 will help us to further achieve [safety and security], ensuring bank-level safety and security for our customers.”
Zodia Custody is registered with multiple global regulatory bodies including the UK’s Financial Conduct Authority (FCA). Their Australian entry comes on the heels of their recent Singaporean expansion last month.
Zodia Custody Australia plans to extend SAF3 with an enhanced suite of services in 2024 to allow institutions a one-stop shop for managing their digital asset activities. Given the platform’s robust architecture and institutional backing, SAF3 could very well set a new standard for digital asset management in the Australian financial landscape.