Zodia Custody announced it is now one of the custody providers for Securitize, BlackRock’s tokenization partner. In March the asset manager unveiled the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money market fund (MMF). It’s now the largest tokenized MMF with a market capitalization of $530 million and minimum investment of $5 million.
What Zodia Custody brings to the table is bank grade digital asset custody. It was founded by Standard Chartered and Northern Trust, with SBI and National Australia Bank subsequently joining as investors.
“Our partnership with Zodia Custody extends secure and compliant custody solutions to institutional investors, allowing them to access tokenised assets like BlackRock’s BUIDL,” said Carlos Domingo, Co-founder & CEO of Securitize. “Together, we’re bridging traditional finance and digital assets, providing infrastructure that institutions need to confidently engage in this transformative market.”
Tokenization & cryptocurrency
Crypto market capitalization currently totals $3.3 trillion and Zodia noted a future projection of $4.8 trillion by 2028. Longer term, real world asset (RWA) tokenization is expected to outstrip crypto. Boston Consulting Group forecast a figure of $16 trillion for tokenization by 2030 although McKinsey predicts a more modest $2 trillion.
“BUIDL’s sharp rise and adoption easily shows the opportunities that tokenised assets can offer. More importantly, it also demonstrates the transformative potential that tokenisation presents institutions and digital asset-native businesses alike,” said Julian Sawyer, CEO, Zodia Custody. “Together with Securitize, we will innovate the intersection of traditional finance and digitally-native services, delivering greater opportunities to investors—safely, securely, and without compromise.”
Zodia Custody has had a productive year landing several new clients, particularly asset managers. Some of its new customers include Deutsche Bank’s DWS, Galaxy Digital, Marathon Digital and 21shares, amongst others.
