NAB Ventures Acquires Stake in Zodia Custody

National Australia Bank (NAB) has revealed its crypto strategy with its strategic investment arm, NAB Ventures, acquiring an equity stake in Zodia Custody. Instead of launching its own stablecoin, NAB will focus on safeguarding digital assets for institutional investors. This move aligns NAB with other notable investors in Zodia, including British bank Standard Chartered, US custody giant Northern Trust, and Japanese lender SBI Holdings. Zodia Custody, headquartered in London, competes with US-based Coinbase in securely storing crypto tokens for institutional clients.