Standard Chartered acquires Zodia Custody to bring institutional crypto custody in-house

Standard Chartered signed an agreement to acquire 100% of Zodia Custody, integrating its regulated cryptocurrency custody operations across Singapore, Hong Kong, Australia, the UAE, and Luxembourg into its Securities Services division. Furthermore, Standard Chartered is spinning off Zodia's software and professional services into a new company, Zodia Solutions, which will be backed by investors including Northern Trust and NAB Ventures. This consolidation aims to offer institutional investors a unified platform for trading, custody, and collateral management, complementing recent moves like introducing custody for Ripple's RLUSD stablecoin and expanding Bitcoin and Ethereum trading in the UAE.