[Zodia Custody, a Crypto Custody Firm Supported by Standard Chartered, Terminates Japanese Joint Venture with SBI] According to Bloomberg, Zodia Custody, a digital asset storage company backed by Standard Chartered Bank, has dissolved its joint venture with SBI Holdings Inc. in Japan after two years of operation following a reassessment. Zodia Custody CEO Julian Sawyer stated: 'This is a strategic consensus reached between SBI and us, a mutual decision by both parties. We each have other priorities, and they also have other key arrangements.' Sawyer noted that SBI Zodia Custody, previously owned 51% by Tokyo-based SBI and 49% by Zodia Custody, had been in discussions with Japan's Financial Services Agency regarding local registration applications but had not made progress. Before deciding to terminate the business, the company had been 'working on and preparing for the application process,' but Zodia Custody has 'limited global resources.' SBI Holdings spokesperson Kosuke Kitamura commented: 'This dissolution does not signify a retreat from our custody business or Asian strategy. It is a proactive decision aimed at achieving faster synergy within our group under our digital ecosystem.'