National Australia Bank’s strategic investment arm, NAB Ventures, has taken a stake in Zodia Custody, revealing the bank’s crypto strategy will involve safeguarding digital assets held by institutional investors rather than launching its own stablecoin.
NAB will join British bank Standard Chartered, custody giant Northern Trust and Japan’s SBI Holdings as investors in Zodia, which is headquartered in London and competes with Coinbase to securely store crypto tokens on behalf of institutional investors.
Loading...
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
