Standard Chartered has signed a definitive agreement to acquire digital asset custodian Zodia Custody, The Block reported on Oct. 21.
The deal comes five months after Zodia shareholders and bondholders accepted the acquisition proposal.
The report said Standard Chartered affiliate Standard Chartered IH will acquire 100 percent of Zodia Custody. The purchase price was not disclosed.
Once the acquisition is completed, Standard Chartered's Securities Services unit will absorb Zodia Custody's business. Its software and professional services business will be separated into a standalone entity, Zodia Solutions, under SC Ventures. Standard Chartered will remain a Zodia Solutions client.
Zodia obtained a payment institution licence in Luxembourg in June. This allows it to provide stablecoin custody and transfer services across the European Union.
Standard Chartered has also expanded its own custody business while pursuing the Zodia acquisition. Earlier this month, it announced it would begin offering cryptocurrency custody services in Singapore by the end of 2026.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr