Risk and innovation are two sides of the same coin: Anoosh Arevshatian on driving the future of product at Zodia Custody

Anoosh, you’ve recently transitioned from Chief Risk Officer to Chief Product Officer. An unusual move — what inspired this shift, and how does it shape your leadership approach?

Great product leadership involves taking calculated risks. It’s about not being afraid to create a narrative for a new solution, even if that means challenging conventional approaches.

Transitioning from Chief Risk Officer to Chief Product Officer isn’t a typical move, but in the world of digital assets and especially digital asset custody, where safety of assets is paramount, it makes sense. To scale successfully, you need the right infrastructure – technological, operational, and legal – but you also need a strong foundation in risk and compliance.

My four years leading risk at Zodia Custody have given me a deep understanding of these complexities. Now, as I step into product leadership, I can use that knowledge to accelerate how we develop and scale our solutions. The goal is always the same: how can we be bold and innovative while staying laser-focused on meeting our clients’ needs?

Zodia Custody operates at the intersection of traditional finance and digital assets. How does this unique position shape your vision for the company’s product strategy?

We’re in a unique position, sitting in the sweet spot between traditional finance (TradFi) and decentralised finance (DeFi). Our major shareholders are TradFi institutions, positioning us as a trusted brand and with a positive reputation; we are also at the forefront of meeting innovative use cases for clients from the crypto-native side. We bridge the gap between traditional capital markets and the new markets developing in digital assets, constantly looking to broaden access and developing new use cases.

The most exciting part of my new role is expanding commercial use cases for digital assets, beyond clients traditionally involved in the financial sector. If you consider the scope of enterprises that could benefit from our solutions, the opportunity is enormous – and we’re uniquely positioned to take advantage of it.

Your career spans continents and industries. How does this global perspective inform your approach to building innovative yet trusted products?

I started my career in Zimbabwe with a German NGO working to secure microloans for micro-enterprises and trying to combat the effects of inflation. It now feels like I have gone full circle, as we’re witnessing stablecoins being used to address similar financial challenges in markets with unstable fiat currencies, and seeing how access to finance can be democratised commercially for institutions and individuals.

Throughout my career I’ve worked across continents, and in roles spanning treasury, trade solutions, and risk management. That mix of exposures and sectors has enabled me to see a broad variety of perspectives and, at the same time, zero in on what the end user is seeking. Internally, this means projects can move faster because we almost have an insider’s view of what works, what doesn’t and how we should design a new capability. Externally, it means hearing more than what the client is saying – having that comprehensive view of the client’s need and then being well-placed to solve that problem and design a solution that truly addresses it.

As Zodia Custody continues to grow, what do you see as the biggest opportunities for innovation in digital asset custody over the next few years?

One of the biggest opportunities lies in expanding the utility of stablecoins. We’re working with an array of partners who share our values and vision to increase incentives to use stablecoins. This will make transfers better for clients, help them earn rewards for holding on to stablecoins, and be able to use their digital assets as collateral when trading.

Bitcoin solutions will also play a big part in 2025. DeFi applications are now borrowing ideas from TradFi, such as running strategies on Bitcoin or running covered calls. We’re working with partners on how we maximise the utility of holding Bitcoin for our clients, whilst being compliant and keeping funds safe.

Beyond that, we’re exploring possible new projects where we can co-develop solutions with some of our partners. We prioritise being at the forefront of innovation – for example, being able to support new chains like Berachain as they go live for the first time – so greater collaboration is key to continued innovation.

Zodia Custody is making bold moves to redefine the digital asset ecosystem—what does this mean for our clients and the industry as a whole?

Our focus is on making the client experience as seamless as possible. While we won’t provide every service ourselves, we work closely with a network of partners and are building a strong ‘network of networks’ to make our clients’ lives as simple as possible. This is one of our biggest priorities for the year ahead.

From stablecoins to competition between Layer1 blockchains, what key trends do you see shaping the digital asset landscape in 2025?

2024 was the first year where there were significant institutional inflows into crypto, specifically due to the rise of US exchange-traded funds. I see that trend continuing into 2025, perhaps with some slightly different underlying assets as collateral.

As for stablecoins, a recent report from Bitwise said that the value of stablecoin transactions was about 83% of that of Visa and MasterCard. I see us moving past that inflection point in 2025.

We’re seeing strong competition among different blockchains as well. Solana is upping its game from an institutional perspective so I expect to see plenty of jostling for which chain can go head-to-head with Ethereum. I’m also closely watching the rise of DePIN (Decentralised Physical Infrastructure Networks). With so many new developments, it’s a very vibrant time to drive the industry forward.