Standard Chartered signs deal to acquire Zodia Custody

Standard Chartered has signed definitive agreements to acquire all of Zodia Custody, a digital-asset custodian, in a transaction that would bring Zodia’s regulated custody operations into the bank’s Securities Services division. Completion remains conditional on regulatory approvals and customary closing conditions, the bank said in an October 21 announcement. The agreement covers 100% of Zodia Custody Limited and was signed by Standard Chartered I H Limited, a subsidiary of Standard Chartered. The bank has not disclosed the financial terms or provided a revised completion date. The acquisition has not yet closed. Under the planned structure, Zodia Custody’s regulated operations will join Standard Chartered’s Securities Services division after completion. Zodia’s software and professional-services operations will instead operate separately as Zodia Solutions under SC Ventures, the bank’s venture and innovation arm. Standard Chartered said Zodia Solutions will continue providing digital-asset technology and professional services to financial institutions. The bank will remain among its customers. Craig Perrin was named CEO of Zodia Solutions. Richard Clark is leading Zodia...