Zodia Custody, the institutional digital asset custodian backed by Standard Chartered, has officially terminated its joint venture with Japan’s SBI Holdings. The dissolution, described by both entities as a ‘mutual decision,’ marks the conclusion of their two-year collaboration in the Japanese market. This strategic realignment allows each firm to independently pursue its core objectives in the rapidly evolving digital asset custody landscape.
The venture, established to provide regulated custody services to institutional clients in Japan, will cease operations. Neither party disclosed specific financial terms or immediate operational impacts stemming from the unwind. Industry analysts view this development as indicative of the dynamic nature of the crypto custody sector, where strategic partnerships are frequently reassessed to align with evolving market demands and regional regulatory frameworks.
Zodia Custody will continue its global expansion efforts, leveraging its strong backing and regulatory compliance focus. SBI Holdings remains a significant force in Japan’s digital asset ecosystem and is expected to continue its domestic custody initiatives independently. The move underscores the importance of strategic agility for firms navigating the complex global regulatory environment for digital assets.
