Standard Chartered acquires Zodia Custody for crypto expansion

Standard Chartered will acquire Zodia Custody’s crypto business, integrating custody services into its investment division and expanding into the UK and Australia. Zodia Solutions will operate independently as a SaaS provider.

Standard Chartered is set to acquire the crypto custody business of Zodia Custody, consolidating full control over its digital asset operations. The bank’s non-binding offer has been accepted by Zodia Custody’s shareholders and noteholders, with completion subject to regulatory approvals. Following the acquisition, Zodia Custody’s client-facing activities will be integrated into Standard Chartered’s investment division. This move will enable the bank to expand its direct digital asset custody services in key markets such as the UK and Australia. Meanwhile, Zodia Custody’s infrastructure business will be spun off as an independent SaaS company named Zodia Solutions, led by CEO Julian Sawyer. Standard Chartered’s venture capital arm will hold a majority stake, while current shareholders, including Northern Trust, Emirates NBD, National Australia Bank, and SBI Holdings, are discussing continued investment. This reflects a growing trend of traditional financial institutions deepening their involvement in regulated digital asset services for institutional clients.