Standard Chartered Signs Deal to Acquire Zodia Custody

Standard Chartered has signed definitive agreements to acquire 100% of Zodia Custody Limited, five months after shareholders and noteholders accepted the bank's non-binding offer. Zodia owns regulated operating entities in Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg. The deal still requires regulatory approvals and customary closing conditions; financial terms were not disclosed.

After completion, Standard Chartered's Securities Services division will absorb Zodia's custody business. Its software and professional services arm will become a separate entity under SC Ventures, called Zodia Solutions. Standard Chartered will be among Zodia Solutions' customers, alongside investors including Northern Trust, NAB Ventures, SBI Ventures and Emirates NBD Bank.

Why it matters

The agreement advances Standard Chartered's push into institutional digital-asset services by combining Zodia's regulated custody operations with the bank's Securities Services division. The structure also keeps Zodia's software and professional services business separate, giving it a distinct role while the bank becomes a customer.

The transaction follows months of work after the offer was accepted in May. Definitive agreements had initially been targeted for the end of June, with completion expected by the end of August. Zodia CEO Julian Sawyer stepped down in September, and former Chief Revenue Officer Richard Clark took over.

Market impact

The acquisition is not yet complete, and regulatory approvals remain a condition. If it closes, the bank will add custody operations across five markets to its institutional services footprint. Standard Chartered has also said it plans to launch crypto custody services in Singapore by the end of 2026.

Zodia secured a payment institution license in Luxembourg in June, enabling regulated stablecoin custody and transfer services across the European Union. Together, the moves show the bank pursuing both custody expansion and regulated digital-asset services, while the transaction's financial terms remain undisclosed.