This is very good news for digital science, and has been a long time coming. For those wondering why this is new and different from previous efforts, I will try to summarize.

Up until now, there have been many places to permanently store your public scientific research objects, so long as you were willing to use a Creative Commons license. Similarly, there were many places to freely host your software, so long as you didn't need a permanent store for your scientific code.

The GitHub-ZENODO partnership is the first web application to bridge these two needs. An earlier attempt with Figshare almost got it right, but failed to support code licenses (everything at Figshare is CC BY). This isn't the only way to host or cite your code, but it's definitely a good default.