Emirates NBD invests in digital asset custodian Zodia Custody
Summary
Created in 2023, the fund strengthens the banks digital ambitions and regional expertise in synergy with the agility and technological innovations of FinTech companies.The UAE is swiftly evolving to become a progressive crypto hub following landmark crypto-friendly policies and the highest cryptocurrency adoption rates in the world. Emirates NBDs investment in Zodia Custody marks a monumental step forward for the firm and reinforces its vision for the future of digital assets.Marwan Hadi, Group Head of Retail Banking and Wealth Management, Emirates NBD, said: 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. The investment in Zodia Custodys robust and unique offerings positions Emirates NBD at the forefront of digital asset innovation, a trillion-dollar-asset class. The Menat region is transforming rapidly into a key player in the crypto economy fuelled by institutional and enterprise activity and a growing appetite for DeFi and Stablecoins. In line with our vision to be a digital leader in the region, we are making strategic investments via the Innovation Fund and committed to fostering a culture of innovation.Julian Sawyer, CEO of Zodia Custody, said: 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.