Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT), has made a strategic equity investment in Zodia Custody, a premier digital asset custodian focused on institutional clients.
This investment was made through the bank’s Innovation Fund, a corporate venture fund launched in 2023 to accelerate its digital transformation and strengthen its regional presence in the growing FinTech sector.
Zodia Custody, headquartered in London, provides tailored digital asset custody solutions, ensuring institutional clients can make informed, secure investment decisions. The UAE’s progressive stance on crypto regulation, coupled with one of the world’s highest cryptocurrency adoption rates, positions the country as a growing hub for digital assets. Nearly 30% of the UAE’s population owns cryptocurrency, with the market expected to grow by 8% annually in the coming years.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, emphasized the bank's commitment to fostering a secure digital asset ecosystem.
"Our investment in Zodia Custody aligns with the UAE's ambitions to become a global financial hub and complements the Dubai Economic Agenda D33,"
he said.
Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital, added that this investment positions Emirates NBD as a leader in digital asset innovation in a rapidly growing market.
Julian Sawyer, CEO of Zodia Custody, expressed gratitude for the bank’s trust, marking this as a key step towards Zodia Custody’s global growth.
The Innovation Fund, part of Emirates NBD’s long-term strategy, seeks to support emerging technologies, ensuring the bank remains at the forefront of digital innovation in financial services.
News Source: Dubai Media Office
