Odaily Planet Daily reports that institutional digital asset custody platform Zodia Custody has received a payment institution license from Luxembourg’s financial regulator, CSSF (Commission de Surveillance du Secteur Financier), enabling it to legally provide custody and transfer services for electronic money tokens (EMTs, i.e., stablecoins) across the European Union.
Zodia Custody stated that this approval represents an expansion beyond its existing MiCA license, enhancing its digital asset services for institutional clients. The company believes that, as the use of stablecoins in payment settlement, liquidity management, and corporate treasury operations continues to grow, the ability to custody and transfer stablecoins will become a core capability for digital asset infrastructure providers.
Founded in 2020, Zodia Custody focuses on the institutional client market, with shareholders including Standard Chartered, Northern Trust, SBI Holdings, Emirates NBD, and National Australia Bank. Following the approval of its Luxembourg license, Zodia Custody now holds relevant regulatory approvals in multiple jurisdictions, including the UK, UAE, Hong Kong, Singapore, Australia, and the EU. (The Block)