Zodia Custody Ends Japan Venture, citing ‘Mutual Decision’: Report

Standard Chartered backed digital asset custody firm Zodia Custody has ended its joint venture with Japan’s SBI Holdings after two years. The partnership, known as SBI Zodia Custody, was dissolved following a strategic decision to realign priorities, according to CEO Julian Sawyer of Zodia Custody. 51% owned by SBI and 49% by Zodia, the project aimed to replicate institutional-grade services in the digital asset space. Zodia’s exit is not seen as a retreat, however, as SBI Holdings says it will accelerate synergies through its digital ecosystem.