Clifford Chance

Clifford Chance advises Zodia Custody on JV with SBI Digital Asset to establish crypto assets custodian in Japan

Leading international law firm Clifford Chance has advised leading crypto asset servicing provider Zodia Custody Limited on its joint venture with SBI Digital Asset Holdings Co., Ltd. (SBI DAH) to establish a Japan-based crypto assets custodian, targeting institutional clients in one of the most sophisticated crypto asset regulatory jurisdictions. The transaction is subject to antitrust, foreign direct investment and financial regulatory clearances.

The joint venture features an innovative structure, and will be owned 51% by SBI DAH and 49% by Zodia Custody.

Lead partner Michihiro Nishi said, “The explosive growth of crypto and digital assets has highlighted the importance of custodial services to protect those assets. With Japan having one of the most advanced and robust crypto regulatory regimes, we are delighted to be a part of the team setting up the first tier 1 crypto asset custodian in the country."

Michihiro was supported by senior associate Shunsuke Nagae and associate Machiko Ishii. Counsel Masafumi Shikakura advised on the antitrust and foreign direct investment aspects of the transaction.

Zodia Custody provides crypto asset services to institutional investors around the globe – enabling institutions to invest safely and securely in crypto assets. Based in London, it is a subsidiary of Standard Chartered with backing from Northern Trust.