Zodia Custody, the institution-first digital assets platform with shareholders and investors including Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD, announced its collaboration with PwC UK, a member firm of one of the world’s largest professional services networks. Under this collaboration, Zodia Custody will provide services to act as the digital assets custodian on PwC UK’s insolvency cases.
This collaboration responds to increasing demand for specialist expertise in safeguarding and managing digital assets during insolvency proceedings. By working with Zodia Custody, PwC UK insolvency practitioners can provide dedicated custody solutions underpinned by Zodia Custody’s secure infrastructure, designed to address the regulatory and technical nuances of digital asset management, ensuring assets are quickly protected and handled with confidence throughout the process.
“Insolvency practitioners need certainty that digital assets are secured within robust, regulated infrastructure, governed by rigorous controls and managed in line with regulatory expectations.” said Julian Sawyer, CEO of Zodia Custody. “As digital assets become more prevalent on corporate balance sheets, there is a shared responsibility to ensure they are protected properly when companies face distress. Through our collaboration with PwC UK, we’re bringing custody built for institutions into the insolvency process, rather than improvised solutions designed for retail crypto markets.”
“As insolvency practitioners, our paramount duty is to protect and preserve assets for the benefit of creditors. Digital assets present unique challenges; they exist on decentralised networks, require specialist technological knowledge to secure, and can be vulnerable to rapid value fluctuation or loss if not properly managed. This agreement with Zodia Custody ensures that when we are appointed over entities holding cryptocurrency, we have immediate access to institutional-grade custody infrastructure that meets the highest regulatory standards. This is about doing right by creditors in an increasingly digital world.” said David Baxendale, UK Insolvency Practitioner, PwC UK.
With Zodia Custody’s global regulatory credentials, including FCA registration, and institutional-grade infrastructure, this collaboration will support PwC UK in the secure and efficient management of digital assets in insolvency cases, offering clarity and confidence in the evolving digital asset landscape.