Emirates NBD invests in Zodia Cusody
12 December 2024 UAE
Image: TTstudio/stock.adobe.com
Emirates NBD has invested in Zodia Custody through its Innovation Fund, the bank’s corporate venture fund.
The investment marks the firm’s ambitions to expand its crypto and digital asset offerings in the region. By investing in Zodia Custody, the bank aims to bridge the gap between traditional financial services and institutional digital assets in the UAE.
As cryptocurrency adoption rates rise across the Middle East, the company says that this collaboration also highlights the first of many in the digital asset and custody industry.
Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, comments: “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.”
Julian Sawyer, CEO of Zodia Custody, states: “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.”
The investment marks the firm’s ambitions to expand its crypto and digital asset offerings in the region. By investing in Zodia Custody, the bank aims to bridge the gap between traditional financial services and institutional digital assets in the UAE.
As cryptocurrency adoption rates rise across the Middle East, the company says that this collaboration also highlights the first of many in the digital asset and custody industry.
Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, comments: “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.”
Julian Sawyer, CEO of Zodia Custody, states: “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.”
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