Zodia Custody, an institution-first digital asset custodian whose shareholders include Standard Chartered, SBI Holdings and Northern Trust, is launching SAF3, the real-time digital asset custody platform in Australia, designed for institutions.
SAF3 has been built by institutions for institutions, and will be “launched in Australia by a new subsidiary called Zodia Custody Australia on Monday, 16 October, 2023.”
Using Zodia Custody’s tried and tested regulation-ready technology, SAF3 will “enable institutions in Australia and New Zealand” to:
- Protect funds – with bank-grade cold wallet storage which is uniquely accessible in real-time
- Grow assets – through one single portal to connect to exchanges and participate in network activities
- Safeguard businesses and their customers – with risk, controls and enhanced fraud and scam detection capability.
Julian Sawyer, CEO, Zodia Custody, said:
“Our expansion into Australia is integral to our core mission — to provide safe, secure access for institutions to not only safely access the opportunities digital assets bring, but to increase their exposure, safely. Today, an estimated 26% of Australians hold digital assets, totalling the equivalent of $21.6 billion currently held via cryptocurrency exchanges and custodial solutions. Responsible institutional adoption is key to ensuring this growing industry is safe and secure for all. Institutions need bank-grade infrastructure to responsibly participate. Our technology and risk management infrastructure housed within the SAF3 platform was built from the ground-up for institutions by institutions, such as regulated banks.”
Zodia Custody Australia will target corporate and institutional customers to offer digital asset custody services including connectivity to exchanges via the SAF3 platform. The custodian will roll out SAF3 as well as an enhanced suite of services in 2024, to allow institutions to manage their digital assets activities all in one safe, secure platform.
NAB, Australia’s largest business bank, has collaborated with Zodia Custody via a proof of concept designed to test the bank-grade credentials of the SAF3 platform.
Both Zodia Custody Australia and the SAF3 service will launch with Australian blockchain technology company, DigitalX, as the first customer.
Zodia Custody is registered “with regulatory bodies globally including the Financial Conduct Authority (FCA), Central Bank of Ireland (CBI) and Commission de Surveillance du Secteur Financier (CSSF) across the UK, Ireland & Luxembourg.”
It is the first bank-backed digital asset custodian “to receive registration with the UK’s regulator. Proactive and collaborative engagement with the Australian regulators is intended with the creation of the Zodia Custody Australia subsidiary.”
The launch in Australia also “follows the custodian’s recent entry into the Singapore market in September.”