Key Takeaways
Standard Chartered will acquire the slice of its crypto custody subsidiary Zodia Custody that it does not already own, a move that fully integrates the digital asset platform into the global bank. The firm’s other shareholders and noteholders accepted the London-based lender’s non-binding offer, according to a statement on Monday.
"We see the acquisition of Zodia Custody as a way to broaden our digital-asset servicing capabilities and provide a more integrated offering to our institutional clients," a Standard Chartered spokesperson said. Financial terms of the deal were not disclosed.
The acquisition will see Zodia Custody’s platform integrated directly with Standard Chartered’s operations, enabling the bank to launch regulated digital asset custody services in key markets, including the United Kingdom and Australia. As part of the transaction, Zodia’s institutional crypto infrastructure unit will be separated into an independent software-as-a-service company called Zodia Solutions. Standard Chartered’s venture capital arm, SC Ventures, will hold a majority stake in the new entity, which will continue to be led by Zodia Custody CEO Julian Sawyer.
The deal solidifies Standard Chartered’s position as a leader among traditional banks moving into the digital asset space, creating a fully integrated crypto custody offering for institutional clients. This move comes as institutional demand for compliant crypto services has grown, driven by the approval of spot Bitcoin ETFs in the U.S. and increasing allocations from asset managers and pension funds. The acquisition strengthens Standard Chartered's competitive footing against rivals like BNY Mellon and State Street, which have also been building out their digital asset capabilities, as well as crypto-native custodians such as Coinbase Custody, BitGo, and Fireblocks.
Standard Chartered was a majority shareholder in Zodia Custody since the venture launched in 2021. Other minority shareholders, including Northern Trust, Emirates NBD, National Australia Bank, and SBI Holdings, are in discussions regarding potential ownership stakes in the newly formed Zodia Solutions.
This article is for informational purposes only and does not constitute investment advice.
