Standard Chartered has agreed to buy Zodia Custody’s regulated digital-asset custody business, subject to regulatory approval and other closing conditions. The bank announced the definitive agreements on October 21 but has not disclosed the transaction price.
What Standard Chartered plans to acquire
The bank’s October 21 announcement moved the transaction beyond the earlier non-binding offer announced in May. It says Standard Chartered I H Limited entered definitive agreements to acquire the parent company of Zodia Custody’s regulated businesses. The transaction still requires regulatory approvals and customary closing steps, so signing does not mean the acquisition has completed.
The regulated custody activities span Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg. Standard Chartered plans to combine them with its existing securities-services custody offering. Zodia’s software and institutional infrastructure business is expected to separate as Zodia Solutions. Customers should distinguish the intended corporate structure from the operations and services already available before the deal closes.
Standard Chartered I H Limited is set to acquire 100% of Zodia Custody Limited, the parent of regulated operating entities in Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg. Following completion, the custody operations are expected to be integrated into Standard Chartered’s Securities Services business.
The deal does not cover every part of Zodia. The companies said Zodia’s digital-asset software and professional-services operations will move into a separate entity, Zodia Solutions, under SC Ventures. The new business is expected to continue providing infrastructure to financial institutions, including Standard Chartered.
Why Zodia’s software business is separate
The proposed split separates regulated custody from technology services. For institutional clients, custody arrangements affect asset access, security controls, operational resilience and recourse if a provider fails. The companies said existing custody clients should continue to receive service as usual during the transaction, but that does not mean the acquisition has closed.
The agreement follows an earlier non-binding offer announced in May. Regulatory approvals and confirmation of completion are the next milestones. Until then, the announced structure remains a plan rather than a completed transfer of ownership.
Primary sources
- Standard Chartered announcement of the definitive agreement
- Standard Chartered’s earlier non-binding offer announcement
Related coverage: SEC proposal on crypto custody by advisers and funds.
This report is based on company announcements and is for informational purposes only, not investment advice.
