Standard Chartered has signed definitive agreements to acquire all of digital asset custodian Zodia Custody, marking a new step toward bringing the company’s custody operations under the bank.
According to a statement to The Block, Standard Chartered I H Limited will acquire 100% of Zodia Custody Limited. Completion of the transaction is subject to regulatory approvals and customary closing conditions; the purchase price was not disclosed.
Zodia, which securely holds crypto assets on behalf of clients, has regulated entities operating in Singapore, Hong Kong, Australia, the United Arab Emirates, and Luxembourg.
Custody business moves to the bank, software remains separate
Once the acquisition is complete, Zodia’s custody operations will join Standard Chartered’s Securities Services division. Its software and professional services business will operate as a separate entity under SC Ventures, called Zodia Solutions.
Standard Chartered will be one of Zodia Solutions’ clients. The statement also listed Northern Trust, NAB Ventures, SBI Ventures, and Emirates NBD Bank among its investors.
New stage in process that began in May
Zodia’s shareholders and debt instrument holders accepted the bank’s non-binding offer in May. Under the initial timeline, definitive agreements were expected by the end of June, with the transaction set to close by the end of August. The agreements signed now mark concrete progress in a process that still awaits approval before closing.
The bank is also expanding its own crypto custody services while acquisition discussions continue. Earlier this month, it announced plans to launch crypto custody services in Singapore by the end of 2026.
In June, Zodia obtained a payment institution license in Luxembourg, enabling it to offer regulated stablecoin custody and transfer services across the European Union. The planned acquisition aims to bring these existing operations together with the bank’s custody business.
Not investment advice.