Standard Chartered Signs Definitive Agreements to Acquire Zodia Custody

Standard Chartered has entered into definitive agreements to acquire Zodia Custody (ZC), following acceptance of its earlier non-binding offer, the bank announced today. The transaction remains subject to regulatory approvals and customary closing conditions.

Under the agreements, Standard Chartered I H Limited will acquire 100% of Zodia Custody Limited, the parent company of ZC’s regulated operating entities in Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg.

Upon completion, ZC’s regulated digital asset custody business will be integrated into Standard Chartered’s existing digital asset custody activities within Securities Services. The bank said the move will consolidate its digital asset custody businesses and unlock revenue synergies, supporting its aim to build a unified client offering that integrates traditional and digital asset securities services for institutional clients globally.

As part of the transaction, ZC will separate its digital asset software and professional services business and transfer the related assets to Zodia Solutions, an independent entity to be established under SC Ventures. Zodia Solutions will continue to provide bank-grade infrastructure to financial institutions, including Standard Chartered, as they launch and scale digital asset services. It will be supported by bank investors including NAB Ventures Pty Limited, Northern Trust Corporation, SBI Ventures Asset Pte. Ltd, Q Studio Restricted Limited (Further Ventures), Emirates NBD Bank (P.J.S.C.), Zodia Investments Limited (Investcorp) and Zodia Holdings Limited (owned by SC Ventures).

Ying Ying Tan, Global Head of Securities Services and Digital Assets at Standard Chartered, said the acquisition deepens the bank’s digital asset custody portfolio and supports its commitment to provide clients with access to institutional-grade custody backed by the connectivity of an international cross-border bank.

Richard Clark, Chief Executive Officer of Zodia Custody, said that as institutional adoption of digital assets accelerates, custody is increasingly becoming part of the global banking landscape. He said bringing Zodia Custody’s 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.

Craig Perrin, Chief Executive Officer of Zodia Solutions, said financial institutions are moving beyond digital asset pilots towards operating services at scale and need trusted technology partners with the expertise and infrastructure to support them. He said Zodia Solutions provides bank-grade technology that enables institutions to launch, operate and scale digital asset services.

Standard Chartered said there is no expected disruption to clients as a result of the transaction, and existing ZC custody clients will continue to be serviced as usual.