Standard Chartered to Buy Zodia Custody, Creating Integrated Digital Asset Custody

Standard Chartered has agreed to acquire the crypto custody operations of its majority-owned subsidiary Zodia Custody, expanding the bank’s digital asset custody offering. The deal follows a non-binding offer accepted by Zodia Custody shareholders and noteholders. Under the plan, Zodia’s custody platform will be integrated into Standard Chartered’s own operations, supporting the launch of digital asset custody services in markets including the UK and Australia. Zodia’s infrastructure unit will be separated into an independent SaaS firm called Zodia Solutions. CEO Julian Sawyer will lead the new entity, which will be majority-owned by Standard Chartered’s venture capital arm. Existing Zodia Custody investors—including Northern Trust, Emirates NBD Bank PJSC, National Australia Bank, and SBI Holdings—are still discussing their future ownership stakes in Zodia Solutions. For crypto traders, this is a notable signal for institutional custody demand. The article frames institutional digital asset custody as increasingly important as regulated banks seek compliant ways to hold assets like Bitcoin and Ethereum on behalf of clients. It also notes that the custody landscape has been shaped by US spot Bitcoin ETF approvals and growing allocations from pensions, sovereign wealth vehicles, and asset managers. Standard Chartered’s move positions it among leading traditional finance players developing crypto custody capabilities, intensifying competition with banks and crypto-native custody providers.