NAB clarifies crypto strategy with investment in Zodia Custody

National Australia Bank’s strategic investment arm, NAB Ventures, has taken a stake in Zodia Custody, revealing the bank’s crypto strategy will involve safeguarding digital assets held by institutional investors rather than launching its own stablecoin.

NAB will join British bank Standard Chartered, custody giant Northern Trust and Japan’s SBI Holdings as investors in Zodia, which is headquartered in London and competes with Coinbase to securely store crypto tokens on behalf of institutional investors.