Emirates NBD Invests in Zodia Custody to Drive Digital Asset Custody in the UAE
Emirates NBD, one of the leading banking groups in the MENAT region, has made a strategic equity investment in Zodia Custody, a London-based institution-first digital asset custodian. The investment, facilitated through Emirates NBD’s Innovation Fund, underscores the bank’s commitment to advancing its digital asset strategy and supporting the UAE’s ambition to become a global hub for crypto innovation.
Established in 2023, the Innovation Fund enhances Emirates NBD’s digital capabilities by leveraging partnerships with agile FinTech companies. This investment aligns with the Dubai Economic Agenda (D33), which aims to position Dubai among the world’s top four global financial hubs and a preferred capital market in the Middle East, Africa, and South Asia.
Zodia Custody provides tailored custody solutions for institutional digital asset investments, adhering to strict regulatory standards and offering security-focused tools to assist clients in navigating the rapidly evolving crypto market.
Commitment to Innovation and Growth
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, emphasized the bank’s dedication to fostering a safe and secure environment for digital asset trading. “Our investment in Zodia Custody demonstrates our commitment to bridging the gap between financial services and digital assets,” he said. “This aligns with the UAE’s progressive regulatory landscape and its ambitions to lead in global innovation and technology.”
Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD, echoed this sentiment, highlighting the MENAT region's growing role in the global crypto economy. “Our investment positions Emirates NBD at the forefront of digital asset innovation, reinforcing our vision to lead in digital transformation while fostering a culture of innovation,” Makin stated.
Global Recognition for Zodia Custody
Julian Sawyer, CEO of Zodia Custody, welcomed Emirates NBD as the fifth traditional financial institution to support their vision. “This investment paves the way for Zodia Custody to emerge as a global leader in digital asset custody,” he remarked.
Alex Manson, CEO of Standard Chartered Ventures, highlighted the strategic importance of the partnership. “We are grateful for Emirates NBD’s recognition and support as we continue building institutional-grade infrastructure for digital assets,” Manson noted.
Driving Strategic Innovation
The Innovation Fund aims to invest in projects across various stages, from early development to growth, delivering both strategic benefits and long-term returns. Through this initiative, Emirates NBD reinforces its position as a digital leader, supporting the growing demand for decentralized finance (DeFi) and stablecoins in the MENAT region.
The investment in Zodia Custody marks a significant milestone for Emirates NBD, demonstrating its commitment to innovation and its strategic role in shaping the future of digital finance in the UAE and beyond.
