KEY INSIGHTS
- Standard Chartered will acquire 100% of Zodia Custody and integrate its regulated custody operations into its banking business.
- Zodia Solutions will operate under SC Ventures and continue providing digital asset software and services to financial institutions.
- The transaction is pending regulatory approvals and closing conditions as financial details have not been disclosed.
Standard Chartered has entered into a definitive agreement on October 21, 2026, to acquire 100% of Zodia Custody to consolidate the digital asset custody firm’s regulated operations under the existing Securities Services business unit of the bank.
The deal includes Zodia Custody Limited and the firm’s regulated operating entities in Singapore, Hong Kong, Australia, the United Arab Emirates, and Luxembourg. No financial details have been disclosed yet and the deal is conditional upon certain regulatory approvals and closing conditions.
The deal continues the process that started in May, when Zodia Custody’s shareholders and note holders have agreed to the non-binding offer from Standard Chartered.
The agreement advances a takeover process that began in May, when Zodia Custody’s shareholders and noteholders accepted Standard Chartered’s nonbinding offer. Under the agreed structure, the bank will absorb the custody business while separating the company’s software and professional services operations into a distinct entity called Zodia Solutions.
Standard Chartered Acquisition of Zodia Custody Reshapes Operations
Once the transaction closes, Zodia Custody’s regulated cryptocurrency safekeeping business will become part of Standard Chartered’s Securities Services division. Integration will help in the consolidation of the bank’s digital asset custody services within its current institutional service division.
Source: Selcoin
According to Standard Chartered, this acquisition is an attempt by them to reinforce their custody suite and increase their digital asset services. Ying Ying Tan, who is the bank’s global head of Securities Services and Digital Assets, confirmed that this move would help them consolidate their custody and international banking services.
The transaction does not place every part of Zodia’s business directly inside the bank. Its software and professional services operations will instead move to Zodia Solutions, a separate company operating under SC Ventures, Standard Chartered’s innovation and investment arm.
Zodia Solutions will continue providing digital asset infrastructure and related services to financial institutions. Standard Chartered will be among its customers, alongside other financial institutions that have invested in the business.
The investors identified in the announcement include Northern Trust, NAB Ventures, SBI Ventures, Emirates NBD, Further Ventures, Investcorp-linked Zodia Investments, and SC Ventures-owned Zodia Holdings. Craig Perrin has been named CEO of Zodia Solutions, while Richard Clark leads Zodia Custody after previously serving as its chief revenue officer.
Acquisition Follows Months of Negotiations
Standard Chartered’s latest agreement follows a longer process than the parties initially anticipated. Zodia Custody’s shareholders and noteholders accepted the bank’s nonbinding proposal in May 2026, with definitive agreements initially targeted for the end of June.
Completion had been expected by the end of August, but the transaction had not reached the final agreement stage by that deadline. The October 21 announcement confirms that the parties have now signed definitive agreements.
Financial terms and the new deadline for completing the transaction were not revealed in the announcement provided. The transaction is subject to certain conditions and approvals. Before being completed, the stated restructuring is still an intended transaction rather than a concluded one.
Standard Chartered has made it clear that current clients of Zodia Custody will be able to receive their services without any interruptions during the whole period of intended integration.
Expansion of Standard Chartered’s Digital Asset Services
Zodia Custody purchase is one of the initiatives of the company aimed at increasing its crypto service offerings to institutional and eligible professional clients.
The plan was announced on October 8, whereby the bank would provide institutional cryptocurrency custodial services in Singapore until the end of 2026. However, although the service is geared towards institutions and qualified companies, the bank has not revealed the types of cryptocurrencies that will be covered under the service.
Standard Chartered offers digital assets custody solutions in such markets as UAE, Luxembourg, and Hong Kong. The Zodia acquisition would bring its custody operations together under a more integrated structure, subject to the transaction’s completion.
The bank has also expanded beyond custody. In UAE, it launched Bitcoin and Ether trading for qualified professional investors who could trade the cryptoassets via their bank connections.
Zodia Custody is a company that was founded in 2020 as a partnership between Standard Chartered and Northern Trust. Over the years since its establishment, it has built a regulated presence in a number of financial hubs.
In June 2026, Zodia received a payment institution license in Luxembourg, which made it possible for the firm to offer regulated custody and transfer of stablecoins throughout Europe.
The Standard Chartered acquisition therefore involves both an ownership change and a reorganization of the businesses’ responsibilities. Regulated custody operations are set to enter the bank’s Securities Services division, while Zodia Solutions will retain the technology and professional services business. Regulatory approval and completion of the transaction remain outstanding.
