What to know:
- Standard Chartered is set to acquire the rest of its cryptocurrency custodian subsidiary Zodia Custody for an undisclosed amount.
- Zodia Custody’s custody activities will be integrated into the bank’s own digital asset custody business.
- Its institutional crypto infrastructure platform will be separated and the assets transferred to an independent entity, Zodia Solutions, which will exist under Standard Chartered’s venture arm.
Standard Chartered plans to fully acquire Zodia Custody, the cryptocurrency custody business it already partially owns.
Standard Chartered announced on Monday that its preliminary offer to buy the firm has been accepted by the company’s other investors and those holding its notes. The financial details of the deal haven’t been revealed.
Last month, news surfaced that the bank was looking into buying the company outright. Sources indicated they were thinking of letting the company continue running as its own software-as-a-service (SaaS) provider.
Since 2021, the bank has owned the largest share of Zodia Custody. Other investors include Northern Trust, Emirates NBD, National Australia Bank, and SBI Holdings, each with smaller ownership stakes.
Standard Chartered is incorporating Zodia’s digital asset custody services into its existing business. Zodia’s technology platform will become a separate company called Zodia Solutions, operating under Standard Chartered’s venture capital group, SC Ventures. SC Ventures already has an ownership stake in Zodia Markets.
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2026-05-18 15:16