Standard Chartered Zodia Custody Acquisition Consolidates Institutional Digital Asset Operations

On 21 October 2026, Standard Chartered signed definitive agreements to acquire 100 percent of Zodia Custody Limited through its subsidiary Standard Chartered I H Limited. The transaction follows shareholder and noteholder acceptance of a non-binding offer made in May 2026. Zodia Custody’s regulated operations in Singapore, Hong Kong, Australia, the UAE and Luxembourg will move into the bank’s Financing and Securities Services business.

Transaction Structure and Integration Plans

The acquisition covers Zodia Custody’s licensed custody platforms and related infrastructure. These entities currently serve institutional clients seeking regulated digital asset storage. Standard Chartered intends to fold the operations into its existing securities services offering, creating a single point of access for both traditional and digital asset custody. Financial terms of the deal have not been disclosed.

Zodia Custody’s software development and professional services activities will be separated into a new independent company called Zodia Solutions. This entity will operate under SC Ventures, with Standard Chartered remaining a client. Existing minority investors, including Northern Trust, NAB Ventures, SBI Ventures and Emirates NBD Bank, will continue to back Zodia Solutions. No client disruption is expected during the transition.

The move reduces internal overlap. Standard Chartered had already begun building its own custody capabilities, including MiCA-related licensing in Luxembourg. By absorbing the regulated custody business, the bank consolidates its institutional crypto custody footprint without maintaining parallel structures.

Background of the Zodia Joint Venture

Zodia Custody launched in 2020 as a joint venture led by SC Ventures with Northern Trust as a key partner. SC Ventures held approximately 70 percent of the equity prior to the current transaction. Additional shareholders included SBI, NAB and Emirates NBD, which participated in a $36 million funding round led by SBI in 2023. Over time, the joint venture’s regulated custody activities increasingly aligned with Standard Chartered’s broader securities services strategy.

Institutional demand for licensed digital asset custody has grown steadily since 2021. Banks and asset managers require segregated, auditable storage solutions that meet regulatory standards across multiple jurisdictions. The separation of Zodia Solutions allows the technology and services platform to pursue independent growth while the custody licence portfolio moves under direct bank control.

Standard Chartered’s Global Head of Financing and Securities Services, Margaret Harwood-Jones, stated that the acquisition accelerates the bank’s global digital assets custody growth and supports end-to-end client offerings. She emphasised that the transaction strengthens the connection between traditional finance and decentralised markets.

Regulatory Process and Expected Timeline

The transaction remains subject to regulatory approvals and customary closing conditions. No specific completion date has been confirmed following the 21 October signing. Earlier internal targets for signing by the end of June and closing by the end of August were not met.

Once approvals are obtained, the regulated custody entities will operate as part of Standard Chartered’s Securities Services division. This structure positions the bank to offer combined custody services across traditional securities and digital assets to institutional clients in Asia, the Middle East and Europe. Zodia Solutions will continue developing infrastructure and professional services under separate ownership.