Zodia Custody acquires Tungsten Custody Solutions 30 June 2025UAE Reporter: Jack McRae
Image: stock.adobe.com/eranda
Zodia Custody has completed an acquisition of Tungsten Custody Solutions as it looks to strengthen its presence in the UAE.
The deal confers Tungsten’s licensing within ADGM — the international financial centre of Abu Dhabi — from the Financial Services Regulatory Authority (FSRA) to Zodia Custody.
Dom Longman, global head of markets at Zodia Custody, says: “We are excited to deepen our presence in a market that is leading digital asset regulation through meaningful collaboration and revenue synergies with businesses operating under its authority.”
Further Ventures, a digital asset-focused venture capital firm, incubated Tungsten from its inception and will join Zodia Custody’s cap table as part of the deal.
Mohammed Hamdy, managing partner at Further Ventures, adds: “Zodia Custody’s acquisition is a validation of that vision and a major step forward for institutional digital asset infrastructure in the region. We’re proud to join forces with a partner that shares our conviction in the future of compliant, secure, and borderless finance.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: stock.adobe.com/eranda 