Standard Chartered has agreed to acquire the crypto custody operations of its majority-owned subsidiary Zodia Custody as part of an expansion of the bank’s digital asset business.
According to a Monday statement, the London-based lender’s non-binding offer was accepted by Zodia Custody shareholders and noteholders. The deal would integrate Zodia’s custody platform with Standard Chartered’s own operations, helping the bank launch digital asset custody services in markets including the UK and Australia.
Zodia’s infrastructure unit will be separated into an independent SaaS company called Zodia Solutions. The business will remain under CEO Julian Sawyer and will be majority-owned by Standard Chartered’s venture capital arm.
Existing Zodia Custody investors, including Northern Trust, Emirates NBD Bank PJSC, National Australia Bank and SBI Holdings, are still in discussions regarding future ownership stakes in Zodia Solutions.
Market implications for institutional crypto custody
