Standard Chartered Acquires Zodia Custody to Expand Services

Standard Chartered acquires Zodia Custody, strengthening its digital asset custody operations and expanding its institutional services worldwide. The announcement follows the acceptance of the bank’s non-binding offer to acquire the company, marking another significant step in its digital asset strategy.  Under the agreement, Standard Chartered I H Limited will acquire 100% of Zodia Custody Limited, subject to regulatory approvals and customary closing conditions. 

The company serves as the parent of Zodia Custody’s regulated operating entities across Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg. Following completion, Standard Chartered will integrate Zodia Custody’s regulated digital asset custody business into its existing Securities Services operations.  Consequently, the acquisition will consolidate the bank’s digital asset custody activities and create opportunities for revenue synergies. Moreover, Standard Chartered aims to strengthen its digital asset capabilities and develop a unified service offering that combines traditional and digital asset securities services for institutional clients globally.  

Standard Chartered Acquires Zodia Custody to Expand Services

Ying Ying Tan, Global Head of Securities Services and Digital Assets at Standard Chartered, said, “We continue to invest in our platform and expand our capabilities to meet the evolving needs of our clients.” She added that the acquisition would deepen the bank’s custody portfolio and reinforce its position as a global digital asset service provider.  Meanwhile, Zodia Custody will separate its digital asset software and professional services business from its regulated custody operations. The company will transfer the relevant assets to Zodia Solutions, an independent entity established under SC Ventures. 

Zodia Solutions will continue providing bank-grade infrastructure to financial institutions, including Standard Chartered, as they develop and expand digital asset services.  Furthermore, Zodia Solutions will receive support from several banking and investment partners. These include NAB Ventures, Northern Trust, SBI Ventures Asset, Further Ventures, Emirates NBD, Zodia Investments, backed by Investcorp, and Zodia Holdings, owned by SC Ventures.  Richard Clark, Chief Executive Officer of Zodia Custody, said, “As institutional adoption of digital assets accelerates, custody is increasingly becoming part of the global banking landscape.” 

He highlighted the benefits of combining Zodia Custody’s specialist expertise with Standard Chartered’s international reach and established banking platform.  Similarly, Craig Perrin, Chief Executive Officer of Zodia Solutions, emphasized the growing need for trusted technology partners as financial institutions move beyond digital asset pilot projects towards large-scale operations.  Importantly, Standard Chartered expects no disruption to clients during the transaction. Existing Zodia Custody clients will continue receiving services as usual, ensuring continuity while the bank advances its digital asset custody strategy.

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