Standard Chartered Takes Full Control of Zodia Custody
Bank integrates crypto custody operations into its securities services following a definitive agreement.
Markets Editor: Fabricio Marcilio 1 min read
Standard Chartered has signed definitive agreements to acquire the entirety of Zodia Custody. The transaction covers the company's regulated operating entities in the United Kingdom, Singapore, Hong Kong, Australia, Luxembourg, and the United Arab Emirates.
The deal follows the acceptance of a non-binding offer made by shareholders in May. Completion of the transaction remains subject to regulatory approvals and the fulfillment of specific contractual conditions.
Custody activities will be incorporated into the bank's Securities Services division. This move aligns digital asset infrastructure directly with the institution's existing institutional banking operations.
Simultaneously, software assets and professional services will be transferred to Zodia Solutions. This new entity will operate under the SC Ventures innovation arm to provide infrastructure technology for financial institutions.
The move reinforces the bank's expansion strategy in the digital asset sector. Recently, the institution launched spot Bitcoin and Ether trading services for institutional clients in the United Arab Emirates.
Spotted an error? Write to suporte@criptoico.com.br.
More in Markets
-
Study Reveals Profit Discrepancies for Memecoins on Pump.fun
Analysis shows 74% of major wallet gains are impossible for retail investors to replicate due to hidden transfers
Markets
-
Bitcoin ETFs Break Two-Week Streak of Net Outflows
Funds saw $301 million in weekly inflows despite sharp declines during the final two days.
Markets
-
Circle Launches USDC Auctions for Institutions
The new Circle Match service allows investors to earn fees paid by those redeeming stablecoins
Markets