The acquisition would cement Zodia Custody’s UAE presence, leveraging ADGM licensing and regional institutional networks.
Institution-first digital assets platform Zodia Custody announced that it is exploring the potential acquisition of Tungsten Custody Solutions, a regulated digital asset custodian headquartered in the United Arab Emirates.
The acquisition would significantly expand Zodia Custody’s operational footprint in the Middle East and would benefit from Tungsten’s licensing within the Abu Dhabi Global Market (ADGM).
Through an integration with Tungsten Custody Solutions, Zodia Custody would enhance its ability to deliver secure, digital asset custody services in the region. Tungsten also holds an Initial Approval and No-Objection Certificate from Dubai’s Virtual Asset Regulatory Authority (VARA).
“The UAE is setting the global standard for digital asset infrastructure – and we’re here to build with it,” said Julian Sawyer, CEO of Zodia Custody.
“It’s a natural move for us to explore joining forces with Mohamed Hamdy and the team at Further Ventures, who are recognised leaders in fostering growth and innovation within the global digital asset landscape. We are looking forward to learning from their expertise and in-market insights as we work to expand our presence in the UAE.”
Mohamed Hamdy, Managing Partner at Further Ventures, comments, “We are excited to explore joining Zodia Custody on its journey to becoming the global leader in institutional digital asset custody solutions. Zodia’s robust infrastructure, world-class team, and exceptional track record provide a powerful foundation to accelerate the adoption of digital assets across the Middle East and beyond.“
Completion of the acquisition is subject to the completion of due diligence and regulatory approval, shareholders’ approvals and satisfaction of other customary closing conditions.
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