Standard Chartered to absorb Zodia Custody after signing acquisition deal

Standard Chartered has signed definitive agreements to acquire full ownership of digital asset custodian Zodia Custody that will bring the company’s regulated crypto custody operations into the bank’s existing securities services business. Summary Standard Chartered has signed definitive agreements to acquire 100% of Zodia Custody, although the transaction remains subject to regulatory approvals and customary closing conditions. The bank plans to integrate Zodia’s regulated custody operations into its Securities Services division, while its software and professional services business will operate separately under SC Ventures. The agreement follows several months of negotiations after Zodia’s shareholders and noteholders accepted a nonbinding offer in May. Standard Chartered has continued expanding its institutional crypto services, with plans for custody operations in Singapore and cryptocurrency trading services for eligible clients in the UAE. According to an October 21 announcement from Standard Chartered, its subsidiary Standard Chartered I H Limited will acquire 100% of Zodia Custody Limited, which oversees regulated operating entities across Singapore, Hong Kong, Australia, t...