Emirates NBD supports the safekeeping of digital assets in the country

Yesterday, Emirates NBD Bank announced its investment in Zodia Custody, the leading institution in the field of digital asset custody. The strategic investment in the company’s shares was made through Emirates NBD’s Innovation Fund, the bank’s venture capital fund. The fund was launched in 2023, and aims to enhance the bank’s digital ambitions and regional expertise in harmony with the flexibility and technical innovations of financial technology companies.

The UAE is rapidly developing into an advanced cryptocurrency hub with pioneering crypto-friendly policies and the highest cryptocurrency adoption rates in the world.

London-based Zodia Custody designs digital asset custody solutions for institutional clients in line with regulatory requirements, ensuring that institutions are able to make informed investment decisions in accordance with market trends with the highest levels of security. Emirates NBD’s investment in Zodia Custody represents an important step for the company and enhances its vision for the future of digital assets.

Marwan Hadi, Head of Retail Banking and Wealth Management at Emirates NBD Group, said: “Our strategic investment in (Zodia Castaudi) reflects our commitment to providing an appropriate environment in which digital asset trading sites and venues and forward-thinking institutions can interact safely and without any compromises. FinTech is rapidly changing the institutional landscape, and we want to ensure that we continue to support emerging technologies to enhance this growth by bridging the gap between financial services and digital assets.” He added: “Our investment is important in light of the UAE’s progressive approach to regulating digital assets and its ambition to become a global center for innovation and technology. In addition, this investment is in line with the Dubai Economic Agenda (D33), which aims to make Dubai one of the four largest global financial centers and the preferred capital market in the Middle East, Africa and South Asia region.”