The acquisition will create a presence in Zodia Custody’s UAE, leveraging ADGM licenses and native institutional networks.
London, April 29, 2025 – Zodia Custody, the primary digital asset platform backed by Commonplace Chartered, Northern Belief, SBI Holdings, Nationwide Financial institution of Australia and Emirates NBD, introduced at the moment that it’s investigating the potential acquisition of Tungsten Custody Options, a regulated digital asset supervisor headquartered in Arab Emirates.
The acquisition will enormously broaden Zodia Custody’s operational footprint within the Center East and can profit from tungsten licensing inside Abu Dhabi World Market (ADGM), one of many world’s most revered regulatory regimes, overseen by the regulatory authority, Monetary Providers Regulatory Authority (FSRA). By means of integration with Tungsten Custody Options, Zodia Custody will improve its skill to offer safe digital asset administration companies within the area. Tungsten additionally holds preliminary approval and no objection certificates from Dubai’s Digital Asset Regulatory Authority (VARA). Zodia Custody will proceed the method of acquiring a full Digital Asset Service Supplier (VASP) license from Dubai Regulators.
As a part of the transaction, additional enterprise capital companies, Abu Dhabi, will even take part in Zodia Custody’s CAP desk. Additional ventures have incubated Tungsten Custody Options since its inception, bringing deep institutional ties to the whole UAE funding, innovation and regulation ecosystem.
“The UAE units the worldwide commonplace for digital asset infrastructure.” I stated Julian Sawyer, CEO of Zodia Custody.
“Exploring the energy of Mohamed Hamdi and his staff with the chief in selling progress and innovation inside the international digital property panorama is a pure transfer for us. We stay up for studying from their experience and market insights to broaden the UAE’s presence.
“This acquisition will present a licensed operational scale inside ADGM and unlock deep connectivity with the regional sovereign ecosystem, a pivotal second in international technique.. ”
Mohamed Hamdy, managing associate for additional ventures; remark,”We stay up for exploring becoming a member of Zodia Custody on our journey to turning into a world chief in Institutional Digital Asset Custody Options. Zodia’s strong infrastructure, world-class groups and distinctive observe report present a robust basis for accelerating the adoption of digital property from the Center East onwards. This partnership is just not solely strategic, however completely aligns with our imaginative and prescient to nurture transformative firms inside the UAE’s digital economic system. ”
The completion of the acquisition is topic to due diligence completion and satisfaction with regulatory approval, shareholder approval, and different customary closure circumstances. The information is presently managing director of the Center East and Africa (MEA) alongside the appointment of key management, beforehand Dominic Longman, senior govt officer at Binance Abu Dhabi Restricted. He can be joined by Zane Suren, managing director of MEA commercials, relocated to the UAE earlier this yr to steer the regional progress of Zodia Custody from the ADGM managed hub.
“This can be very thrilling to be a part of Zodia’s custody at such an important time with plans to broaden the UAE.”Longman commented. “I lead a proficient staff from the UAE hub and work with Zane to steer Zodia Custody’s progress technique throughout the Center East and Africa, solidifying my place because the area’s main digital asset supervisor.”
About Zodia’s custody
Zodia Custody is the establishment’s first digital asset platform backed by Commonplace Chartered in reference to Northern Belief, SBI Holdings, Nationwide Financial institution of Australia and Emirates NBD. Zodia Custody permits institutional traders all over the world to understand the complete future potential of digital property with its custody, the Ministry of Finance, and a mixture of settlement and settlement options. It operates underneath approval granted by the Monetary Conduct Authority, the Central Financial institution of Eire, supervisor du Secteur Financier, and Hong Kong Firms Registry.
Zodia Custody implements the 5AMLD necessities and applies the identical requirements as commonplace charters associated to AML, FCC and KYC. Implement the necessities of FATF journey guidelines. Zodia Custody Restricted is registered within the UK with the FCA as a cryptocurrency enterprise underneath Cash Laundering, Terrorist Finance and Fund Switch Rules 2017. Zodia Custody (Eire) Restricted was based in Eire in August 2021. Zodia Custody (Areland) Restricted can be compensated as compensation for the combat towards Cash Laundering and Terrorist Fainning pursuant to Article 7-1(2) of the Act dated November 12, 2004. Zodia Custody (Hong Kong) Restricted is the Cash Laundering and Counterterrorism Financing Ordinance (AMLO), CAP. 615 Concerning detention actions in digital property.
For extra details about Zodia Custody, please go to https://zodia-custody.com/.
About Tungsten Custody Options
Tungsten presents key institutional traders secure and controlled custody of digital property, offering purchasers with peace of thoughts by safely storing digital property and precisely finishing up transactions. Tungsten’s devoted know-how is managed at its headquarters within the UAE. With a world-class staff of specialists, tungsten minimizes operational and geopolitical dangers, permitting purchasers to speculate confidently of their digital property.
Tungsten Custody Options Ltd regulates monetary companies license quantity 220129 by the ADGM Monetary Providers regulator.
For extra details about Tungsten, please go to tungsten.ae
Extra ventures
Additional ventures are constructing and investing in firms that can make full use of future monetary markets.
Moreover, it bridges the following era monetary infrastructure of rising economies with capital markets all over the world. We allow institutional companions to soundly switch and retailer property, resolving spinoff transactions in commerce structured merchandise, safe distributed networks, symbols of funds, and unreliable methods.
Founders from San Francisco to Hong Kong will additional choose as co-founders of the company of alternative. We make an intensive capital dedication, work actively with regulators, and construct massive firms into classes, bringing collective experience.
Media Contact
Louisa Shepherds
Zodia Custody
(Electronic mail safety)
Konstantin Sinev
Extra ventures
(Electronic mail safety)
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