CryptoSlate
Standard Chartered has signed an agreement to acquire 100% of Zodia Custody, bringing its institutional cryptocurrency custody business under direct ownership through subsidiary Standard Chartered I H Limited. The acquisition covers regulated operations in Singapore, Hong Kong, Australia, the UAE, and Luxembourg, and advances a takeover proposal Zodia's shareholders and noteholders accepted in May.
Zodia's custody operations will be integrated into Standard Chartered's Securities Services division, adding crypto safekeeping alongside the bank's existing traditional securities and digital asset services. Ying Ying Tan, the bank's global head of Securities Services and Digital Assets, said the move would strengthen its custody portfolio and expand its ability to serve institutional clients globally.
Why it matters
The deal reflects how quickly Wall Street-adjacent banks are racing to own the full institutional digital asset stack. Standard Chartered already offers Bitcoin and Ethereum trading for institutional investors in the UAE, custody for Ripple's RLUSD stablecoin, and integration with LMAX Group for collateral. Folding Zodia in creates a unified platform for trading, custody, and settlement, reducing institutional clients' dependence on multiple service providers.
Market impact
Alongside the acquisition, Standard Chartered is spinning Zodia's software division into a new independent company, Zodia Solutions, under its SC Ventures arm. Northern Trust, NAB Ventures, SBI Ventures, and Emirates NBD are among the investors. The structure gives Standard Chartered exposure to a separate technology business serving banks that want digital asset infrastructure without building it themselves, while keeping regulated custody firmly inside the bank.
Frequently asked questions
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Which jurisdictions will Standard Chartered's Zodia Custody operate in after the acquisition?
The acquisition covers Zodia Custody's regulated operations in Singapore, Hong Kong, Australia, the United Arab Emirates, and Luxembourg, giving Standard Chartered a multi-jurisdictional institutional custody footprint.
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What is Zodia Solutions and how does it differ from the custody business being acquired?
Zodia Solutions is a new independent company spun out of Zodia's software and professional services division under SC Ventures. It will sell digital asset infrastructure to other financial institutions, while the custody operations are absorbed directly into Standard Chartered's banking structure.
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Which investors are backing Zodia Solutions alongside Standard Chartered?
Northern Trust, NAB Ventures, SBI Ventures, and Emirates NBD are among the investors in Zodia Solutions, with Standard Chartered remaining a customer of the new entity.
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How does the Zodia Custody deal fit into Standard Chartered's broader digital asset strategy?
The bank already operates Zodia Markets for trading infrastructure and Libeara for tokenization. Adding Zodia Custody creates a unified platform covering trading, safekeeping, collateral management, and tokenized real-world assets for institutional clients.
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What is still required before the Standard Chartered and Zodia Custody deal is finalized?
The transaction is pending regulatory approvals across the relevant jurisdictions before it can formally close. Shareholders and noteholders had already accepted the takeover proposal in May.
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