- Standard Chartered signed definitive agreements to acquire Zodia Custody’s regulated operating entities.
- The deal covers Zodia Custody UK Limited and regulated entities in Singapore, Hong Kong, Australia, Luxembourg and the United Arab Emirates.
- The transaction remains subject to regulatory approvals and closing conditions.
Standard Chartered has moved forward with its planned purchase of Zodia Custody by signing definitive agreements for the firm’s regulated operating entities. The Zodia Custody deal follows a step announced in May, when shareholders accepted the bank’s non-binding offer, and it still depends on regulatory approvals and other closing conditions. Under the agreement, Standard Chartered would acquire 100% of Zodia Custody UK Limited, which is the parent company for regulated entities across several markets. The transaction would also place the crypto custody business into the bank’s existing Securities Services operations while other assets are set for transfer to a separate SC Ventures-linked entity.
Zodia Custody deal moves to definitive agreements
Standard Chartered said it signed definitive agreements to acquire Zodia Custody’s regulated operating entities. The bank described this as the next stage of a transaction first announced in May after shareholders accepted its non-binding offer.
The agreement is not yet complete. Standard Chartered said the transaction remains subject to regulatory approvals as well as closing conditions, meaning the acquisition is still awaiting the final steps before completion.
What the Zodia Custody acquisition includes
As part of the transaction, Standard Chartered would acquire 100% of Zodia Custody UK Limited. The bank said this company is the parent of Zodia’s regulated operating entities in Singapore, Hong Kong, Australia, Luxembourg and the United Arab Emirates.
The structure outlined by the bank separates different parts of the business. While the regulated operating entities would come under Standard Chartered, Zodia would transfer its software and professional-services assets to Zodia Solutions, described as an independent entity under SC Ventures.
How Standard Chartered plans to use the business
Standard Chartered said the transaction would integrate Zodia’s crypto custody business into its existing Securities Services operations. This indicates the acquired custody activities would sit within a business line the bank already operates.
Zodia Solutions, the separate entity under SC Ventures, would provide digital asset infrastructure for financial institutions. The announcement therefore sets out a split between the custody business moving into Standard Chartered’s operations and the software and services assets moving elsewhere.
Broader crypto expansion at the bank
The acquisition fits into Standard Chartered’s wider push in crypto-related services. The report said the UK-based lender had started considering in April whether to fold Zodia’s crypto custody business into its corporate and investment banking division.
It also noted that in September, Standard Chartered launched spot Bitcoin and Ether trading for institutional clients in the United Arab Emirates. Taken together, these steps show the Zodia Custody transaction as part of a broader expansion rather than a standalone move.
Conclusion
The Zodia Custody acquisition has advanced from a non-binding offer accepted in May to signed definitive agreements, although regulatory approvals and closing conditions are still pending. Standard Chartered said the deal would give it full ownership of Zodia Custody UK Limited and bring regulated operating entities in Singapore, Hong Kong, Australia, Luxembourg and the United Arab Emirates into the transaction. At the same time, software and professional-services assets are set to move to Zodia Solutions under SC Ventures. Based on the bank’s announcement, the Zodia Custody deal is designed to place the custody business inside Standard Chartered’s Securities Services operations as it continues expanding its crypto services.
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