NAB Ventures, the venture arm of National Australia Bank, has invested in **Zodia Custody**, a leading institutional-grade cryptocurrency custody platform. Zodia is also backed by major financial institutions like **Standard Chartered, Northern Trust, and SBI Holdings**. This investment signifies NAB's commitment to the growing cryptocurrency space in Australia. **Zodia Custody** established its operations in Australia in late 2023 and is now focusing on onboarding local digital asset exchanges and preparing for the upcoming wave of **digital asset ETFs**. The company aims to become the preferred custodian for these ETFs, which are expected to be approved by the Australian Securities Exchange (ASX). Zodia's investment prioritizes **compliance and regulatory requirements**, anticipating stricter regulations in 2025. NAB Ventures was drawn to Zodia's **innovative approach, security features, and strong regulatory relationships**. 

NAB Ventures made an undisclosed investment in Zodia Custody, which is also backed by Standard Chartered, Northern Trust and SBI Holdings.

FinanceZodia Custody established operations in Australia in late 2023 By Ian AllisonJun 19, 2024 at 10:16 a.m. UTCUpdated Jun 19, 2024 at 10:18 a.m. UTCShare on FacebookShare on LinkedInShare on XNational Australia Bank (Shutterstock)Share on FacebookShare on LinkedInShare on XNAB Ventures made an undisclosed investment in Zodia Custody, which is also backed by Standard Chartered, Northern Trust and SBI Holdings.Key immediate priorities include onboarding Australia’s unique ecosystem of home-grown digital asset exchanges and priming for the coming wave of ETF issuers.UnmuteCoinFund President on Navigating the 'Macro Noise'00:51Has Crypto Become Political?02:14FTX Victims File to Recover $8B in Forfeited Assets; Will Biden and Trump Shake Hands Before Debate?00:55DJT Token Rallied 180% on Trump Rumors21:50How Fed's Interest Rate Decisions Could Affect CryptoThe venture arm of National Australia Bank, NAB Ventures, has invested in Zodia Custody, an institution-grade cryptocurrency and digital assets safekeeping platform which is also backed by Standard Chartered, Northern Trust and SBI Holdings.The investment from NAB Ventures underpins Zodia’s push into Australia, where the custody firm established operations in late 2023, according to a press release. The size of the investment was not disclosed.Banks and other financial institutions have warmed to the idea of cryptocurrency custody, usually opting for some third party to manage cryptographic keys and explore use cases around trading, tokenization and so on.“NAB Ventures’ investment in Zodia was based on a range of factors including their innovative approach, institution-grade safety and strong work with regulators,” said NAB Ventures MD Amanda Angelini in a statement.Following the investment, key immediate priorities include onboarding Australia’s unique ecosystem of home-grown digital asset exchanges, many of whom are moving assets onto the Zodia Custody platform in preparation for stricter regulatory requirements expected to come into effect in 2025, Zodia said.Zodia Custody is also priming itself as the custodian of choice for applicants of anticipated digital asset ETFs awaiting approval from the ASX, the custody firm added.Edited by Parikshit Mishra.DisclosurePlease note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.Ian AllisonIan Allison is an award-winning senior reporter at CoinDesk. He holds ETH.Follow @IanAllison123 on TwitterRead more aboutZodia Custody

National Australia Bank’s Venture Arm Invests in Crypto-Focused Zodia Custody

NAB Ventures Invests in Crypto Custody Platform Zodia

Ripple's latest venture is taking its crypto ambitions to Wall Street. Evernorth, a digital asset treasury backed by Ripple, announced it will merge with Armada Acquisition Corp II (AACI) and list on the Nasdaq (NDAQ), raising over **$1 billion** in proceeds.

The company plans to use the funds to purchase **XRP (XRP-USD)**, the fifth-largest cryptocurrency by market value, and create the **largest publicly traded XRP treasury** in the world.

Evernorth describes itself as a digital asset company designed to accumulate XRP under a regulated, public structure. The listing will allow investors to gain **indirect exposure to XRP price movements** through traditional equity markets rather than crypto exchanges. The deal is expected to close in early 2026, with shares trading under the proposed ticker **XRPN**.

## Ripple Rallies Big Backers

The deal has drawn heavyweight support from across the crypto and financial sectors. Japanese financial giant **SBI Holdings** has committed roughly $200 million, while **Ripple**, **Pantera Capital**, **Kraken**, **GSR**, and Ripple co-founder **Chris Larsen** are also among the investors. The transaction sponsor, **Arrington XRP Capital**, will oversee the SPAC merger.

Evernorth's leadership stated the goal is to create a **transparent, liquid, and compliant vehicle** for institutional investors who want exposure to XRP without holding the token directly. Additionally, the firm will use part of its proceeds to provide liquidity and manage yield strategies tied to XRP's performance.

## Turning XRP Price into a Public Market Experiment

Evernorth's model is straightforward: it will act as a publicly traded treasury that accumulates and manages XRP on behalf of shareholders. The company's success will depend heavily on **XRP's price trajectory**, making the stock effectively a **public market proxy** for the cryptocurrency.

If XRP prices rise, Evernorth's holdings increase in value, creating potential for equity upside. If they fall, the company's valuation will likely mirror this decline. Analysts see the launch as a test of how far traditional markets are willing to go in **blending digital assets with listed corporate structures**.

## Evernorth Creates a New Channel for Regulated Crypto Access

The timing of Evernorth's debut coincides with improving sentiment in crypto regulation and renewed interest in digital asset funds. XRP has gained traction among institutional investors following **Ripple's legal victories** and its expanding use in cross-border payments. Evernorth aims to turn this momentum into an investable product that meets public-market standards.

However, the concept carries risk. Concentrating more than a billion dollars into a single token could **amplify volatility**. Critics warn that a public treasury model leaves investors exposed to both crypto market swings and corporate governance challenges. Evernorth insists that its **regulatory framework and transparent reporting** will help mitigate those risks.

At the time of writing, **XRP is sitting at $2.4599**.

![XRP Price Chart](https://blog.tipranks.com/wp-content/uploads/2025/10/Screenshot-2025-10-20-at-15-1-1024x544.png)

Ripple’s latest venture is taking its crypto ambitions to Wall Street. Evernorth, a digital asset treasury backed by Ripple, said Monday it will merge with Armada A...

Evernorth's $1 Billion Nasdaq Deal: Bet on XRP's Price in the Public Markets

## CleanSpark's Strategic Evolution

CleanSpark, Inc. (Nasdaq: CLSK), known as America's Bitcoin Miner®, has announced a significant business evolution from being a pure-play **Bitcoin miner** to incorporating **AI compute** into its operations. This move is highlighted by the appointment of **Jeffrey Thomas** as Senior Vice President of AI Data Centers, bringing over four decades of global experience in emerging technologies and data center infrastructure.

### Driving Expansion into AI Infrastructure

As Senior Vice President of AI Data Centers, Mr. Thomas will lead CleanSpark's strategy to expand beyond **Bitcoin mining** by developing and operating advanced **AI data center infrastructure**. This strategic shift aims to diversify the Company's revenue streams, strengthen long-term cash flow potential, and enhance its ability to serve leading technology companies worldwide.

Mr. Thomas is a globally recognized entrepreneur and executive, having led or participated in 19 ventures that created over **$12 billion in shareholder value**. He joins from his role as President of AI Data Centres at Humain, where he spearheaded Saudi Arabia's multi-billion AI data center program, building strategic partnerships with hyperscalers and advancing sovereign compute initiatives.

### Leveraging Bitcoin Mining Expertise

CleanSpark's expansion builds on its proven, vertically integrated **infrastructure-first model**, leveraging large-scale **Bitcoin mining** expertise to unlock value across its land and power portfolio. The Company's strong track record in rapid site development positions it to capitalize on accelerating demand for digital infrastructure driven by the rise of **AI** and compute-intensive applications.

### Leadership Insights

Matt Schultz, CleanSpark's CEO and Chairman, stated, "Jeffrey's decades of experience building and scaling digital infrastructure platforms make him an exceptional addition to our leadership team. His track record of creating billions in shareholder value and forging partnerships with world-leading technology companies will be instrumental as we expand operations and deliver diversified growth for our shareholders."

Jeffrey Thomas added, "CleanSpark is at a pivotal moment in its journey. The Company has established itself as a leader in large-scale **Bitcoin mining**, and I look forward to building on this foundation by expanding into next-generation digital infrastructure. Together, we have a tremendous opportunity to deliver exceptional solutions for customers while creating long-term value for shareholders and positioning CleanSpark at the center of the **AI and intelligent computing revolution**."

Scott Garrison, Chief Development Officer and Executive Vice President, noted, "We have identified Georgia as a strategic region for potential conversion and expansion. We recently contracted for additional power and real estate in College Park to deliver high-value compute to the greater Atlanta metro area and are evaluating giga-campus opportunities across our portfolio to meet significant off-taker demand. With Jeff on board, we are ready to rapidly scale and maximize the value of our growing power and land footprint."

### About CleanSpark

CleanSpark is a market-leading data center developer with a proven track record, owning and operating a portfolio of power, land, and data centers across the United States. The Company optimizes its infrastructure to deliver superior returns by monetizing low-cost, high-reliability energy to produce compute, positioning it to prosper in an ever-changing world.

**Forward-Looking Statements**

This press release contains forward-looking statements regarding the Company's expectations, plans, and strategies, subject to risks and uncertainties. Factors include the success of AI site development, revenue generation from non-Bitcoin data centers, regulatory approvals, and impacts of global trade policies. The Company assumes no obligation to update these statements.

**Investor Relations Contact**
Harry Sudock
702-989-7693
ir@cleanspark.com

**Media Contact**
Malory Van Guilder
651.335.0585
malory@skyya.com

/PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today announced the appointment of Jeffrey Thomas as Senior Vice...

CleanSpark Shifts from Bitcoin Mining to AI Compute: A Game-Changing Move for the Future

## Bitcoin's Unexpected Decoupling from Nasdaq

**Amid a week where major assets, including Gold and the Nasdaq 100, posted gains, Bitcoin lagged significantly.** The recent Bitcoin decoupling suggests the asset is neither a risk-on nor a safe-haven asset.

According to Coingecko, Bitcoin’s price has declined by approximately **2.09% over the past seven days**. This occurred while safe-haven gold surged **4.85%** and the risk-on Nasdaq 100 Index climbed **1.34%**.

## What Caused the BTC-Nasdaq Decoupling?

For much of the year, Bitcoin has maintained a **high correlation with the Nasdaq 100**, generally rising and falling in tandem. This relationship held early last week.

The mood was positive through Tuesday after Federal Reserve Chair Jerome Powell hinted at a potential **interest rate cut** at the October FOMC meeting and a possible end to **Quantitative Tightening (QT)**. These statements led to minor gains for both the Nasdaq and Bitcoin.

However, the correlation began to break sharply starting at 9 am UTC on October 15. From that point, the Nasdaq 100 finished the week up **0.44%**, while Bitcoin plunged **3.71%**.

## Leverage Washout Cited as Primary Cause

On-chain analysts point to the massive crypto crash on October 10—an event that saw over **$19 billion in liquidations** and injected fear into the market—as the likely culprit.

TeddyVision, an analyst at CryptoQuant, highlighted two distinct trends between August 1 and mid-October. Analyzing the 30-day Simple Moving Average (SMA) of stablecoin net inflows to exchanges, he found that **USDC inflows to spot exchanges** (typically used for spot buying) declined.

Meanwhile, **USDT inflows to derivatives exchanges** (often used for collateral) increased. This suggests that capital used for actual asset purchases decreased. Meanwhile, liquidity supporting leveraged derivatives, such as futures and perpetual contracts, surged.

## The Role of Synthetic Demand

According to this analysis, it might not have been **organic spot demand** which have driven the recent price appreciation. Instead, it was likely caused by **speculative leverage** and **synthetic exposure** linked to derivatives and ETF-related capital rotation.

The October 10 crash may have instantly evaporated the market’s **speculative buying pressure**, explaining why Bitcoin failed to rally alongside the recovering Nasdaq 100.

## Geopolitical Hopes and Altcoin Strength

Bitcoin showed a slight rebound on Sunday, crossing the **$108,000 mark** for the first time since the drop. For Bitcoin to successfully chase the Nasdaq’s recovery this week, attention must shift back to the potential de-escalation of the **US-China tariff war**, which initially caused the price to plummet from the $122,000 level to $100,000.

The atmosphere appears tentatively optimistic. In a Friday interview, President Donald Trump indicated that he does not believe the **100% tariff on China** is “sustainable,” suggesting that the high tariff was merely a negotiating tactic to gain concessions on rare earth exports.

Treasury Secretary Scott Besent is scheduled to hold working-level talks with Chinese Vice Premier He Lifeng this week in Malaysia. These discussions aim to set the stage for a potential **US-China summit** at the APEC meeting on October 31 in Gyeongju, South Korea.

Despite Bitcoin’s two-week slump, **investor sentiment remains resilient**. The rapid recovery of altcoins evidences this. While BTC fell approximately 2%, **ETH rose 5.96%** and **SOL gained 7.12%** over the same period, signaling that lower-cap altcoins are recovering faster than the benchmark asset.

## Looking Ahead: Macro Indicators and Earnings

This week, we will also see the release of crucial **macroeconomic indicators**, including the delayed **CPI data** on Friday due to the shutdown of the US government. Manufacturing and service PMI figures and the University of Michigan Inflation Expectations will be released concurrently.

Bitcoin lagged the Nasdaq last week due to a leverage washout. Analysts point to speculative demand. US-China talks & CPI are now in focus.

Bitcoin's Shocking Nasdaq Breakup: The Hidden Leverage Crisis No One Predicted

## Ethereum Leads Crypto's Q3 Rally as Capital Flees Bitcoin

**Ethereum (ETH)** emerged as the frontrunner in crypto’s third-quarter recovery, leaving **Bitcoin (BTC)** behind as capital flowed into **altcoins**, **DeFi protocols**, and a new wave of **tokenized assets**, a report by **CoinGecko** found.

The broader market added over **$500 billion** in value, its second straight quarter of meaningful growth, but this time, it wasn't Bitcoin leading the charge. Instead, investors looked to **Ethereum** and other large-cap tokens to carry momentum forward.

At the start of July, it looked like Bitcoin would again set the pace. Its price hit new highs early in the quarter, buoyed by retail interest and institutional inflows through **spot exchange-traded funds (ETFs)**.

But by September, the narrative had changed. While Bitcoin cooled off, **Ether caught fire**.

A combination of **ETF demand**, growing interest in **tokenized real-world assets**, and renewed attention from **corporate treasuries** helped ETH hit a fresh all-time high before settling back.

That shift in focus was one of the quarter’s **defining trends**, analysts at CoinGecko wrote.

Trading activity, which had fallen for two straight quarters, snapped back with strength. **Spot volumes surged** across centralized and decentralized exchanges. But the story wasn’t just about volume, it was about where that volume was going.

**Meme coins**, long considered fringe, made a dramatic return with tokens like M climbing the charts. **Stablecoins** like USDe gained ground, and lesser-known altcoins entered the top 30 by market cap. **DeFi**, which had faded from the spotlight in late 2024, mounted a comeback as **total value locked** in lending and staking protocols climbed alongside Ethereum’s rise, according to the report.

## A Shift in Investor Appetite

Behind the scenes, **structural shifts** were taking shape.

Bitcoin’s share of the total crypto market declined, a sign that investor appetite had moved toward other narratives. Ethereum gained ground, but so did categories that had struggled to break through in previous years, particularly **tokenized assets**.

A new generation of **on-chain stocks and bonds** began to take hold, and protocols like **Ondo** and **Backed Finance** gained traction with investors looking to bridge traditional and decentralized finance.

Bitcoin also became less tied to legacy markets. Its price movement **decoupled from the S&P 500** for the first time in over a year. That could be read as a positive, the report stated, and proof that crypto is becoming a more **independent asset class**. But it also reflects how investor attention has fragmented, the report stated.

Even the mining sector reflected this changing dynamic. Bitcoin’s **hashrate hit record highs**, and miner-focused ETFs posted strong returns.

However, the spotlight was elsewhere: on **emerging tokens**, Ethereum’s momentum, and the **rebirth of DeFi**, the report found.

![ETH closed 2025 Q3 at $4,215, representing a +68.5% increase within the quarter. (CoinGecko)](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F81f9ef09b5ec5fb5c758552f1e2f07c0b949bd00-1338x770.png%3Fauto%3Dformat&w=3840&q=75)

ETH hit fresh highs while bitcoin cooled, as investors chased DeFi, altcoins, and tokenized assets. CoinGecko calls it a defining market shift.

Ethereum's Q3 Explosion: How ETH Stole the Spotlight from Bitcoin in a Major Market Shift

## The Hidden Danger in Your Neighborhood

There’s a remarkable new report from the CNN Investigates team about **crypto ATMs** – devices that may be at your corner store and allow people to exchange money for cryptocurrency such as **Bitcoin**.

[A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here.](https://www.cnn.com/newsletters/what-matters?source=nl-acq_article)

[See the full investigation, with videos and visualizations.](https://www.cnn.com/interactive/2025/10/us/crypto-atm-scams-companies-profit-invs-vis/)

### One Machine, Dozen Frauds

I was struck by the detail that CNN documented **at least a dozen potential fraud cases tied to a single ATM**. That’s an indication not just that one ATM has a problem, but that these cases of fraud are **rampant in the US**.

Shame at being duped may keep many people from reporting that they’ve fallen victim to fraud, and when they do, authorities are frequently at a loss to help. But now, by using crypto ATMS – there’s probably one near your house – scammers have changed the way things work. And **companies that operate the machines are profiting from it**.

The companies behind these crypto ATMs strongly disputed allegations that they profit from scams and listed various efforts to protect consumers. There’s more about all of that in the story.

### Behind the Investigation

I talked to three of the CNN reporters who worked on the investigation, Yahya Abou-Ghazala, Curt Devine, and Majlie de Puy Kamp. They answered my questions by email. Our conversation is below:

**What made you realize these crypto ATMS were a story? Was it something specific?**

We previously wrote about state attorneys general attending lavish foreign trips paid for by the industries they oversee, including a [luxury trip to Rome](https://www.cnn.com/2025/05/15/politics/attorneys-general-luxury-trips-lobbyists-rome-invs) earlier this year. Our colleagues traveled to Italy to document the trip and noticed someone stand out among the attendees. This person appeared younger than other attendees and was not a recognizable official or lobbyist. This turned out to be **Ben Weiss, the CEO of CoinFlip**, a crypto ATM company that had been sued by the state of Iowa for allegedly profiting from scams (which the company disputes). We didn’t know much about crypto ATM companies at the time, but we realized this was an industry that was both gaining influence among government officials and coming under scrutiny.

**These scams seem to go by a script where the victim is intimidated by a threatening phone call and an urgent demand for money. What have the crypto ATMs changed?**

Crypto ATMs have made it easier to quickly send **large volumes of currency to places out of reach of US law enforcement**. Rather than sending victims to buy a bunch of gift cards for $500 each, for example, scammers can send them to one machine to deposit thousands of dollars at one time and then funnel the currency overseas.

Scammers also prey on the average person’s lack of knowledge about the machines themselves. From our experience reporting this story, many people aren’t familiar with crypto ATMs or how they work. Scammers tend to exploit this, especially when they are pretending to be law enforcement or government officials. They send often elderly victims to these machines under the assumption that the crypto ATM is a legitimate way to pay off (made up!) fines, fees, or debts to companies or the government. In one incident, a scammer referenced the **Strategic Bitcoin Reserve** that President Donald Trump established to make a victim more comfortable with stuffing cash into ones of these machines.

**So many people – including me – have gotten these phishing calls from people who have personal information about you. They’re scary. Many people probably figure out it’s a scam before handing over money. How often are the calls successful?**

That is difficult to answer, but given how prevalent these scam texts are, we have to assume they are lucrative for criminals. The **FBI told us Americans lost around $240 million to crypto ATM scams in the first half of this year**. What’s interesting is that we’ve seen people from all walks of life fall for these scams, including doctors and CEOs.

It’s easy to blame the scam victim for falling for the ruse, but the fact of the matter is, if the scam is targeted right, you will probably fall for it too. And these days there is so much information on people available online that it doesn’t take much for a scam to be targeted enough to be believable.

**Is there evidence that there is an organized effort behind these? What do we know about the people doing the targeting?**

In most local cases we reviewed, the scammer’s identity remains a mystery. But in some cases, specific people have been charged – like a citizen of India [indicted](https://www.justice.gov/usao-az/pr/participants-tech-support-scheme-charged-conspiracy-launder-fraudulent-proceeds) last year, who prosecutors called “a high-level member of a sophisticated, organized, transnational fraud ring.” That case remains pending and much of it is sealed. Some Americans have also been [charged](https://www.justice.gov/usao-mdfl/pr/georgia-inmate-and-associate-indicted-conspiracy-commit-wire-fraud-jury-duty-scam). We also know there are [scam compounds](https://www.cnn.com/2025/02/05/asia/myanmar-thailand-scam-power-cuts-intl-hnk) in places like Myanmar, where thousands of people are held against their will and forced to work for low wages to carry out financial scams that target Americans. So it’s certainly possible that some of the scammers who try to push people in the US to transfer them cash through crypto ATMs are themselves victims of crimes.

**You tied multiple scams to a single ATM. How long did that process take? Is there a way for people to figure out if ATMs near them have been used in scams?**

We requested records from police departments, the Federal Trade Commission and state offices across the country and went through each incident report to log the details in a spreadsheet. It took us about **four months to receive the records and log more than 700 cases**. It was in that process of manually reading through every report that we started to notice recurring addresses for the same location or store. Once we put everything together, the spreadsheet became a trove of information allowing us to see how much money people had lost, what sort of scam had targeted them and which ATMs they used.

It would be time-consuming to replicate that process, and the point is not whether a particular crypto ATM has been repeatedly used by scammers. The point is that these scams are now rampant, so if someone says you need to deposit money into one of these machines to pay a fine or avoid a penalty, that’s almost certainly a scam.

**The crypto ATM owners say most of the transactions are legitimate. Is there any data to back up that claim?**

That is a great question, with a bit of a convoluted answer. Some of the companies have pointed to a [report](https://www.trmlabs.com/resources/blog/illicit-activity-involving-crypto-atms-is-double-that-of-overall-crypto-industry) by the analytics group TRM Labs, which found that **1.2% of cash-to-crypto transactions were illicit in 2023**. That’s a relatively small figure.

But some law enforcement investigations that have obtained data from particular crypto ATM companies and interviewed customers have alleged scams account for much higher percentages of those companies’ business. The **DC attorney general alleged that more than 90% of deposits in one company’s ATMs came from fraud** over the span of months, which that company disputes.

**One thing that sticks out is that there appears to be little law enforcement can do after a person uploads cash to the crypto ATM. What are the roadblocks to recovering money?**

Once you insert cash into a crypto ATM, that currency can rapidly be transferred just about anywhere in the world. The problem with recovering the money afterward is that scammers often direct the funds to **cryptocurrency exchanges outside of US jurisdiction** that are less likely to cooperate with US law enforcement.

**Are lawmakers talking about some kind of regulation? What are some of the remedies being discussed?**

More than a dozen states have passed laws that seek to blunt crypto ATM scams. They impose requirements like **daily transaction limits on the machines**, which seek to reduce what scam victims may lose. As lawmakers have sought to crack down, crypto ATM companies have hired lobbyists across the country and have even pushed their own model legislation with fewer protections. In Missouri, for example, legislators passed regulations this year that matched model legislation passed along by CoinFlip in another state nearly word-for-word, with no transaction limits. Some federal lawmakers have pushed for tighter rules, but remember, the Trump administration has [relaxed](https://www.justice.gov/dag/media/1395781/dl?inline) oversight of the crypto industry. So these regulation debates may play out for years to come.

There’s a remarkable new report from the CNN Investigates team about how crypto ATMs, devices that may be at your corner store and which allow people to exchange money for cryptocurrency such as Bitcoin.

NAB Ventures Invests in Crypto Custody Platform Zodia

Summary:

NAB Ventures invested in Zodia Custody, an institutional-grade cryptocurrency custody platform.

Zodia is also backed by major financial institutions like Standard Chartered, Northern Trust, and SBI Holdings.

The investment signifies NAB's commitment to the growing cryptocurrency space in Australia.

Zodia Custody established its operations in Australia in late 2023 and is now focusing on onboarding local digital asset exchanges.

The company aims to become the preferred custodian for anticipated digital asset ETFs awaiting approval by the ASX.

Zodia prioritizes compliance and regulatory requirements, anticipating stricter regulations in 2025.

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