Zodia Custody is taking a major step toward strengthening its global footprint. The company announced it is exploring the acquisition of Tungsten Custody Solutions, a regulated digital asset custodian based in the United Arab Emirates (UAE).
The move would significantly expand Zodia Custody’s presence in the Middle East, leveraging Tungsten’s licensing within the Abu Dhabi Global Market (ADGM) — widely recognized as one of the world's premier regulatory environments for digital assets, overseen by the Financial Services Regulatory Authority (FSRA).
By integrating Tungsten Custody Solutions, Zodia Custody would enhance its ability to deliver secure, regulated custody services in a fast-growing market. As part of the potential transaction, Further Ventures, Abu Dhabi's leading digital asset venture capital firm, would also join Zodia Custody’s shareholder base, reinforcing strategic regional ties.
Julian Sawyer, CEO of Zodia Custody, emphasized the importance of this move:
"The UAE is setting the global standard for digital asset infrastructure – and we’re here to build with it. It’s a natural move for us to explore joining forces with Mohamed Hamdy and the team at Further Ventures, who are recognised leaders in fostering growth and innovation within the global digital asset landscape. We are looking forward to learning from their expertise and in-market insights as we work to expand our presence in the UAE. This acquisition would give us licensed, operational scale within ADGM and unlock deep connectivity with the region’s sovereign ecosystem. It’s a pivotal moment in our global strategy.”
From Further Ventures' side, Mohamed Hamdy, Managing Partner, added:
“We are excited to explore joining Zodia Custody on its journey to becoming the global leader in institutional digital asset custody solutions. Zodia’s robust infrastructure, world-class team, and exceptional track record provide a powerful foundation to accelerate the adoption of digital assets across the Middle East and beyond. This partnership would not only be strategic but would align perfectly with our vision of nurturing transformative companies within the UAE’s digital economy.”
Supporting this strategic expansion, Zodia Custody has also appointed Dominic Longman, formerly Senior Executive Officer at Binance Abu Dhabi Limited, as Managing Director, Middle East and Africa (MEA).
“Joining Zodia Custody at such a pivotal time, with its plans to expand UAE operations, is incredibly exciting,” Longman said. “I'm eager to lead a talented team from our UAE hub, and work with Zane to spearhead Zodia Custody’s growth strategy across the Middle East and Africa, cementing our position as the region's leading digital asset custodian.”
Learn more about the announcement: Zodia Custody – Exploring the Acquisition of Tungsten Custody Solutions