Aquanow partners with Zodia Custody for expansion in the UAE and Gulf region

Crypto infrastructure provider Aquanow has announced a strategic partnership with Standard Chartered-backed Zodia Custody.

The partnership will see Zodia Custody deliver its enterprise custody solutions to support Aquanow's expansion across the United Arab Emirates and the broader Gulf Cooperation Council region. This collaboration will allow Aquanow to meet the institutional-grade cold storage needs of banks, neobanks and other leading financial institutions, a press release said on Tuesday.

Digital asset opportunities in the Middle East

The alliance aims to help Aquanow and Zodia Custody capitalize on the cryptocurrency market and infrastructure opportunities in the Middle East. "Together with Aquanow, we’ll be playing our part in building the infrastructure that local and global institutions need in order to capitalise on the digital asset opportunities in the Middle East," Zodia Custody Chief Executive Officer Julian Sawyer said.

"This partnership provides us with the enterprise custody solutions trusted by even the most demanding financial institutions, ensuring that digital assets accessed through their platform are both safe and readily available," Aquanow CEO Phil Sham said.

Established in 2018 and headquartered in Canada, Aquanow is a digital assets infrastructure provider enabling crypto financial services for institutional clients. Last month, the company announced that the company had secured full operational approval for its Virtual Asset Service Provider license from Dubai’s Virtual Asset Regulatory Authority.

Zodia Custody is an institutional-grade cryptocurrency custodian backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank.