Standard Chartered Signs Agreement to Acquire Zodia Custody
The deal will fold Zodia's regulated custody business into Standard Chartered's Securities Services unit while spinning off software and professional services into Zodia Solutions.
- On Wednesday, Standard Chartered signed definitive agreements to acquire 100% of Zodia Custody Limited, integrating the crypto custodian's regulated operations across five jurisdictions into the bank's Securities Services division.
- The agreement follows a non-binding offer disclosed in May, formalizing the bank's relationship with the custodian it helped establish alongside Northern Trust in 2020.
- Under the deal, Zodia's software and professional services arm transfers to a new company named Zodia Solutions, backed by seven investors including NAB Ventures, Emirates NBD, and Investcorp-linked Zodia Investments operating under SC Ventures.
- Richard Clark now leads Zodia Custody following the departure of former CEO Julian Sawyer, while Craig Perrin, chief executive of Zodia Solutions, oversees the software operations.
- Ying Ying Tan, Standard Chartered's Global Head of Securities Services, said the purchase "further deepens our digital asset custody portfolio," while Clark noted "custody is increasingly becoming part of the global banking landscape.
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Standard Chartered to absorb Zodia Custody after signing acquisition deal
Standard Chartered has signed definitive agreements to acquire full ownership of digital asset custodian Zodia Custody that will bring the company’s regulated crypto custody operations into the bank’s existing securities services business. According to an October 21 announcement from Standard…
Standard Chartered Signs Deal to Acquire 100% of Zodia Custody
TL;DR Standard Chartered signed definitive agreements to acquire 100% of Zodia Custody, although completion remains subject to regulatory approvals and closing conditions. Zodia’s regulated custody operations will move into Standard Chartered’s Securities Services business, while its software and professional services arm will become Zodia Solutions under SC Ventures. The deal advances a process that began ...
Standard Chartered Takes Full Control of Its Zodia Crypto Custody Arm
On Wednesday, Standard Chartered disclosed that it has signed definitive agreements to acquire 100% of Zodia Custody, bringing a six-year institutional crypto venture fully into its banking operations. Founded in 2020 alongside Northern Trust, Zodia evolved from a bitcoin and ether custodian into a multinational digital asset business. The acquisition reunites its regulated custody operations […]
Standard Chartered has signed definitive agreements to acquire 100% of Zodia Custody; the regulated crypto custody companies will be integrated into the bank's Securities Services unit.
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