Zodia Custody Expands into UAE with Strategic Acquisition of Tungsten Custody Solutions

Zodia Custody, a leading institutional-grade digital asset custodian backed by major financial institutions like Standard Chartered Ventures and Emirates NBD, has officially completed its acquisition of Tungsten Custody Solutions, a regulated digital asset custodian based in the United Arab Emirates (UAE). This move marks a significant step in Zodia’s global expansion strategy, strengthening its foothold in the Middle East, a region increasingly recognized as a hub for digital finance innovation.

The acquisition, finalized on June 30, 2025, allows Zodia Custody to inherit Tungsten’s licensing within the Abu Dhabi Global Market (ADGM), a prestigious international financial center regulated by the Financial Services Regulatory Authority (FSRA). This licensing enhances Zodia’s ability to offer secure and compliant digital asset custody services to institutional clients in the UAE and beyond.

In addition to the ADGM license, Zodia Custody is pursuing a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), building on Tungsten’s initial approval certificate. This demonstrates Zodia’s commitment to operating within the UAE’s robust regulatory framework, ensuring trust and security for its clients in a rapidly evolving market.

The Middle East, particularly the UAE, has emerged as a key player in the digital finance landscape, with progressive regulations and a growing interest in blockchain and cryptocurrency technologies. Zodia’s expansion into this region positions it to capitalize on these opportunities, catering to the increasing demand for safe and reliable custody solutions among institutional investors and corporations.

Commenting on the acquisition, a spokesperson for Zodia Custody highlighted the strategic importance of the UAE in their long-term vision, emphasizing their dedication to providing world-class custody services in jurisdictions shaping the future of finance. This acquisition not only broadens Zodia’s geographical reach but also reinforces its mission to empower global institutions in the digital asset space.

As Zodia Custody continues to grow its presence in the UAE, industry experts anticipate further partnerships and innovations that will drive the adoption of digital assets in the region. This development underscores the UAE’s role as a pioneer in the global fintech and blockchain ecosystem, with Zodia poised to play a pivotal role in this transformation.