Standard Chartered has announced that its non-binding offer to acquire Zodia Custody, a digital asset custodian backed by SC Ventures, has been accepted by Zodia Custody's shareholders and noteholders. The transaction remains subject to regulatory approvals and customary closing conditions.
Zodia Custody's regulated custody activities will be integrated into Standard Chartered's existing digital asset custody business within its Financing and Securities Services division, consolidating the group's digital asset custody operations. The bank states the move is intended to unlock revenue and cost synergies while enabling a broader offering to digital asset custodian clients globally. Existing Zodia Custody clients are expected to continue to be serviced without disruption.
Zodia Solutions to operate independently under SC Ventures
As part of the transaction, Zodia Custody will separate its institutional digital asset infrastructure platform business, transferring the relevant assets to a newly established independent entity, Zodia Solutions, which will sit under SC Ventures. Zodia Solutions will continue to provide bank-grade infrastructure to financial institutions, including Standard Chartered itself, supporting them as they launch and scale digital asset services. A number of bank investors, including existing Zodia Custody investors, will support Zodia Solutions going forward.
Commenting on the news, Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, stated that the acquisition would accelerate the growth of the bank's global digital assets custody portfolio and further strengthen its position as a bridge between traditional finance and decentralised finance.
Adding to this, Julian Sawyer, CEO of Zodia Custody, noted that digital asset custody is increasingly being delivered within banking environments, while financial institutions are simultaneously seeking specialist infrastructure partners to support the launch and scaling of digital asset services.
Strategic significance for SC Ventures
The transaction also highlights the role of SC Ventures within the broader group strategy. Alex Manson, CEO of SC Ventures, stated that the acquisition demonstrated how SC Ventures translates emerging technologies and market opportunities into commercially relevant capabilities for the bank, and reinforces the value of its model in enabling participation in emerging ecosystems through scalable ventures and strategic partnerships.
The acquisition reflects a broader trend among global banks seeking to consolidate digital asset custody capabilities in-house, as institutional demand for regulated custody infrastructure continues to grow. For Standard Chartered, the move deepens its end-to-end digital assets offering at a time when the sector is attracting increasing regulatory attention and institutional capital.
