Zodia Custody, a leading institution-first digital asset platform backed by Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank (NAB), and Emirates NBD, has released a paper in joint partnership with Abu Dhabi’s international finance centre, ADGM Academy Research Centre and ADGM, exploring the future of digital asset custody regulation. The release is provided solely for informational and educational purposes and should not be construed as legal, regulatory or investment advice, or solicitation for business.
As the global digital asset community converges on Dubai for TOKEN2049 this week, the paper focuses on the progressive regulatory stance championed by the ADGM and the wider MEA region. Co-authored by Zane Suran, MD of Commercial MEA, Dominic Longman, MD MEA at Zodia Custody, and Dmitry Fedotov, Head of DLT Foundations at ADGM, this joint paper outlines the qualities of ADGM’s regulatory approach that make it fit-for-purpose for Web3. These include:
- Tailored Structure – Utilising a tailored approach to legislation to offer Web3 organisations, DAO’s and Blockchain foundations a tailored, transparent and predictable rulebook.
- Recognition – Clear recognition and custom regulatory frameworks for decentralised governance mechanisms, ensuring a balance between decentralised operation and accountability.
- Accountability – The importance of shielding developers and token holders from personal liability for a Web3 foundation’s actions/obligations, by giving Web3 foundations a distinct legal personality.
What does this mean for the future of crypto custody?
- Necessity – Compliant custody of assets is a requirement for the Trad-Fi space, and the same must apply to the Web3 space if we are to see the industry grow.
- Trust – Custodians are likely to play a significant role in assisting Web3 organisations achieve greater trust with regulators, as compliant-custody of their assets is intrinsically linked to their business model.
“The ADGM has long pioneered the advancement of digital assets infrastructure”, said Zane Suren, MD of Commercial, MEA at Zodia Custody. “As a digital asset custodian trusted by major financial institutions across global markets, we recognise that robust and clear regulation is a top priority for market participants. We hope this paper demonstrates a joint commitment by Zodia Custody, ADGM Academy and the ADGM to help educate the sector and reinforce the importance of adopting a clear, consistent, and compliance-first approach.”
“Successfully navigating the Web3 landscape requires a clear understanding of both innovative technology and enabling regulation,” said Dmitry Fedotov, Head of DLT Foundations at ADGM. “In this collaborative report with Zodia Custody, we bridge these worlds, offering practical guidance on secure custody alongside insights into pioneering frameworks designed for DAOs and DLT Foundations”
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The full paper titled “Securing the Future: Custody Best Practices for Web3, DAOs and Blockchain Foundations” is available for review here. Could you please refrain from publishing or sharing this link.
About Zodia Custody
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Zodia Custody is a leading institution-first digital asset custodian backed by Standard Chartered in association with Northern Trust, SBI Holdings, National Australia Bank and Emirates NBD. It enables institutional investors to navigate the digital asset future – simply, safely and without compromise. Through the combination of leading technology, custody, governance and compliance, Zodia Custody satisfies the complex needs of institutional investors.
Please note, Zodia Custody is not licensed or authorised by the ADGM FSRA to conduct regulated activities in the ADGM. The views and information presented herein are general in nature and intended for informational and educational purposes only and should not be construed as legal, regulatory or investment advice.
About ADGM Academy:
The ADGM Academy Research Centre brings together an ecosystem of academics, financial industry practitioners, government and technology experts to unlock the shared potential to improve the financial environment in MENA and beyond. The financial industry continues to transform at a rapid pace with new technologies, disruptors, threats and opportunities appearing all the time. Independent research is crucial to be able to understand and utilise this transformation for the benefit of your business, your customers and society in general. The Research Centre provides that understanding through insights developed in collaboration with the academic community.
About ADGM:
ADGM is an international financial centre that brings unique value to the emerging economy of Abu Dhabi and the broader region. Established in 2015, ADGM has significantly enhanced Abu Dhabi’s stature as a leading financial centre and business hub, bolstering its role as a key player in the Falcon Economy. It serves as a vital strategic link between the growing economies of the Middle East, Africa, South Asia, and global markets.
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