Standard Chartered to gain full control of Zodia Custody

Standard Chartered has moved to take full control of the crypto custody business of its majority-owned subsidiary, Zodia Custody, in a strategic expansion of its digital asset operations. The London-based bank’s non-binding offer has been accepted by Zodia Custody’s shareholders and noteholders, according to a statement.

The transaction is designed to integrate Zodia’s custody platform directly into Standard Chartered’s own operations. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, stated that this integration will support the launch of digital asset custody services in new markets, including the United Kingdom and Australia. Concurrently, Zodia’s infrastructure unit will be separated into an independent software-as-a-service company named Zodia Solutions, which will remain under the leadership of current Zodia Custody CEO Julian Sawyer. Standard Chartered’s venture capital arm will hold a majority stake in this new entity.

The move underscores the growing importance of regulated custody services as a core infrastructure component for traditional financial institutions entering the digital asset space. Institutional adoption of...