Cryptoupdated 1h ago2 min read
Standard Chartered Signs Definitive Deal To Acquire 100% Of Zodia Custody Limited
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Standard Chartered signs definitive agreements to acquire 100% of Zodia Custody. Deal is subject to regulatory approvals and customary closing conditions.
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Standard Chartered buys Zodia
Standard Chartered entered into definitive agreements to acquire 100 per cent of Zodia Custody Limited, subject to regulatory approvals and customary closing conditions, and planned to integrate Zodia Custody’s regulated digital asset custody business into its existing digital asset custody activities within Securities Services. Standard Chartered I H Limited will acquire Zodia Custody Limited, the parent company of Zodia Custody’s regulated operating entities in Singapore, Hong Kong, Australia, the United Arab Emirates, and Luxembourg. Standard Chartered said Zodia Custody would separate its digital asset software and professional services business and transfer assets relating to that business to Zodia Solutions, an independent entity to be established under Standard Chartered Ventures.
Zodia Solutions will continue to provide bank-grade infrastructure to financial institutions, including Standard Chartered, as they launch and scale digital asset services. Ying Ying Tan, global head of Securities Services and digital assets at Standard Chartered, said, “The acquisition of Zodia Custody further deepens our digital asset custody portfolio and reinforces our position as a leading provider of digital asset services globally.”
Custody integrated, tech spun
Zodia Custody CEO Richard Clark said the deal would strengthen the custody offering, adding, “Bringing that expertise together with Standard Chartered’s global reach and established banking platform will strengthen its digital asset custody offering and provide institutions with greater access to trusted, regulated custody services worldwide.” The transaction would integrate Zodia’s crypto custody business into Standard Chartered’s existing Securities Services operations, while Zodia would transfer its software and professional-services assets to Zodia Solutions under SC Ventures. Standard Chartered said it does not anticipate any disruption to clients as a result of the transaction, and existing Zodia Custody clients would continue to be serviced as usual.
Standard Chartered’s acquisition also follows Zodia’s shareholders accepting Standard Chartered’s non-binding offer in May, with the definitive agreements signed while regulatory approvals remained pending. Craig Perrin, CEO of Zodia Solutions, said, “Financial institutions are moving beyond digital asset pilots towards operating services at scale.”
Global footprint and investors
Standard Chartered said Zodia Solutions would be supported by bank investors including NAB Ventures Pty Limited, Northern Trust Corporation, SBI Ventures Asset Pte. Ltd, Q Studio Restricted Limited (Further Ventures), and Emirates NBD Bank (P.J.S.C.).
Standard Chartered also listed Zodia Investments Limited (Investcorp) and Zodia Holdings Limited (owned by SC Ventures) as additional supporters of Zodia Solutions.
The deal structure placed Zodia’s regulated operating entities across Singapore, Hong Kong, Australia, the United Arab Emirates, and Luxembourg under Standard Chartered’s custody integration plan.
Standard Chartered framed the acquisition as a way to consolidate its digital asset custody businesses and strengthen its digital asset capabilities, while supporting an ambition to build a unified client offering integrating both traditional and digital asset securities services for institutional clients globally.
Richard Clark said, “As institutional adoption of digital assets accelerates, custody is increasingly becoming part of the global banking landscape.”