Standard Chartered Signs Binding Deal to Acquire 100% of Zodia Custody

Standard Chartered announced on Wednesday that it signed definitive agreements to acquire 100% of Zodia Custody Limited through its Standard Chartered I H Limited entity, converting a non-binding May 18 proposal into a binding agreement. The transaction covers Zodia's regulated digital asset custody businesses across five jurisdictions: Luxembourg, Singapore, Hong Kong, Australia, and the UAE, though the release did not disclose a purchase price, expected closing date, or specific regulators. Upon completion and subject to regulatory approvals and customary closing conditions, Zodia's regulated custody arm will fold into Standard Chartered's Securities Services unit, led by Global Head of Securities Services and Digital Assets Ying Ying Tan. Zodia's remaining digital asset software and professional services operations will split off into a new standalone firm under SC Ventures called Zodia Solutions, led by CEO Craig Perrin and backed by NAB Ventures, Northern Trust, SBI Ventures Asset, Further Ventures' Q Studio, Emirates NBD, Investcorp's Zodia Investments, and Zodia Holdings. "Financial institutions are moving beyond digital asset pilots towards operating services at scale." — Craig Perrin, CEO of Zodia Solutions.