Standard Chartered buys Zodia Custody outright in crypto push

What's the deal? Standard Chartered has agreed to acquire 100% of Zodia Custody, a firm that safeguards crypto assets for institutional clients. The price was not disclosed. The bank signed definitive agreements in October, subject to regulatory approval.

The detail: Zodia runs regulated custody operations across five markets — Singapore, Hong Kong, Australia, Luxembourg, and the UAE. Standard Chartered plans to fold those units into its Securities Services business, while spinning out Zodia's software arm as an independent company under SC VenturesDealroom has a profile for this one. Try Dealroom →.

Why now? The bank first agreed to the purchase in May, but moved to full ownership as traditional finance pushes deeper into digital-asset infrastructure. Standard Chartered also said it plans to launch crypto custody in Singapore.

What's the endgame? By owning Zodia outright, Standard Chartered brings crypto custody in-house rather than relying on a partner. That gives it direct control over how it holds digital assets for large clients.

The signal: The acquisition is a substantive sign of banks seeking to own crypto custody rather than outsource it. The trend runs wider: Visa was reported to be in talks to buy Fireblocks, though Fireblocks denied it. For Standard Chartered, this is an expansion of institutional services, not just a change of ownership.

Read more: openpr.com

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