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Standard Chartered signs definitive deal to acquire Zodia Custody

Standard Chartered signs definitive deal to acquire Zodia Custody

Money Moves

Bank folds the crypto custodian it helped create into its securities services, pending regulatory approval

October 21st, 2026: Standard Chartered signs definitive agreement to acquire Zodia Custody

Overview

Updated Oct 24

Standard Chartered signed final agreements to buy Zodia Custody, the digital asset custodian that grew out of its own venture arm. The deal moves Zodia's regulated custody business into the bank's securities services unit, so institutional clients get crypto and traditional securities from one provider.

Zodia holds licences in Singapore, Hong Kong, Australia, the UAE and Luxembourg. Its Abu Dhabi arm said in mid-October that it had won permission to custody tokenized securities, about a week before the signing. The price is undisclosed, no closing date is set, and Zodia's former chief executive said in June the deal would finish by the end of August.

Why it matters

Client crypto and traditional securities will sit under one regulated bank roof, one custodian instead of two. That narrows counterparty risk for institutions.

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Key Indicators

100%
of Zodia Custody being acquired
Standard Chartered I H Limited will buy all of Zodia Custody Limited, subject to regulatory approval.
5
regulated jurisdictions
Zodia's regulated entities span Singapore, Hong Kong, Australia, the UAE and Luxembourg.
Undisclosed
financial terms
Neither side disclosed the purchase price for the deal.

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People Involved

YT
Ying Ying Tan
Global Head of Securities Services and Digital Assets, Standard Chartered
Global Head of Securities Services and Digital Assets at Standard Chartered
RC
Richard Clark
Chief Executive, Zodia Custody
Leading Zodia through the handover to Standard Chartered
 Julian Sawyer
Julian Sawyer
Former Chief Executive, Zodia Custody
Left the chief executive role in September 2026 and moved to a strategic-adviser position

Organizations Involved

Standard Chartered
Standard Chartered
Bank
Acquirer of Zodia Custody

London-based international bank folding digital asset custody into its securities services arm.
Zodia Custody
Zodia Custody
Digital Asset Custodian
Being acquired by Standard Chartered

Institutional digital asset custodian backed by SC Ventures with regulated entities in five jurisdictions.
SC Ventures
SC Ventures
Venture and Innovation Unit
Parent of carved-out Zodia Solutions

Standard Chartered's innovation unit, backer of Zodia Custody and new home for Zodia Solutions.

Timeline

December 2025 October 2026

8 events Latest: October 21st, 2026 · 3 weeks ago
Tap a bar to jump to that date

  1. Standard Chartered signs definitive agreement to acquire Zodia Custody

    Latest Acquisition

    Standard Chartered signed final agreements to acquire 100% of Zodia Custody, subject to regulatory approvals. Custody operations will fold into Securities Services; the software arm becomes Zodia Solutions.

  2. Standard Chartered unveils Singapore custody plans

    Expansion

    The bank announced plans to offer custody for cryptoassets, stablecoins and tokenized assets in Singapore.

  3. Zodia's Abu Dhabi arm wins digital securities custody permission

    Regulatory

    Fintech News UAE reported on Oct. 14 that Abu Dhabi's Financial Services Regulatory Authority approved a licence change letting Zodia's local entity, Tungsten Custody Solutions, custody tokenized securities and commodities. Zodia announced it; the regulator has not published its own confirmation.

  4. Richard Clark becomes Zodia chief executive

    Leadership

    Julian Sawyer stepped down as chief executive; former chief revenue officer Richard Clark took over.

  5. LMAX Group joins Standard Chartered custody platform

    Business

    LMAX Group became the first client of Standard Chartered Luxembourg's MiCA-authorized digital asset custody platform.

  6. Zodia secures payment institution license

    Regulatory

    Luxembourg's financial regulator granted Zodia a payment institution license, enabling regulated stablecoin custody and transfer services across the EU.

  7. Zodia shareholders accept Standard Chartered offer

    Acquisition

    Zodia's shareholders and noteholders accepted Standard Chartered's non-binding offer to buy the custodian.

  8. Zodia wins MiCA crypto-asset license

    Regulatory

    Zodia Custody (Europe) received a crypto-asset services license in Luxembourg under the EU's MiCA regulation.

Scenarios

1

Regulators clear Zodia deal, custody business folds into Standard Chartered

Likely Resolves by Q2 2027

Discussed by: Paperjam, FinanceFeeds, Standard Chartered press release

The transaction completes once regulators in the relevant jurisdictions approve. Zodia's regulated custody entities move into Standard Chartered's securities services, consolidating the bank's two separate digital asset custody businesses. The bank has projected no disruption to clients during the transition.

2

Regulatory review stretches past mid-2027

Possible Resolves by End of 2027

Discussed by: FinanceFeeds

The original timeline targeted completion by end of August 2026, which already slipped to an October signing. Multi-jurisdiction approvals across five countries could extend the review further. The October announcement did not specify a revised closing date or which approvals remain outstanding.

3

Zodia Solutions emerges as the standalone growth engine

Possible Resolves by Q2 2028

Discussed by: Standard Chartered press release

The carved-out software business continues selling bank-grade custody infrastructure to financial institutions as an independent company under SC Ventures. It is backed by bank investors including NAB Ventures, Northern Trust, Emirates NBD and Investcorp, giving it channels to grow beyond its former parent.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

2022

BNY Mellon digital asset custody (2022)

BNY Mellon, one of the world's largest custody banks, announced it would hold Bitcoin and Ether for institutional clients, building its platform with blockchain firm Fireblocks. It was a landmark move by a traditional bank into what had been a crypto-native niche.

Then

Other large custodians followed with their own digital asset offerings, and BNY Mellon expanded into tokenized assets.

Now

Established that regulated custody banks would service digital assets rather than leaving crypto holdings to startups.

Why this matters now

The same dynamic is at work now: Standard Chartered folding crypto custody into its regulated securities services, positioning itself against custody giants like BNY Mellon.

2020

Standard Chartered's Zodia Custody launch (2020)

Standard Chartered's venture unit, SC Ventures, launched Zodia Custody as a standalone digital asset custodian serving institutional clients as a standalone digital asset custodian, keeping crypto off the bank's own balance sheet while serving institutional clients.

Then

Zodia won regulatory licenses in Luxembourg and expanded to five jurisdictions as a separate company.

Now

The venture model gave Standard Chartered a regulated foothold in crypto custody it can now bring fully in-house.

Why this matters now

This deal reverses that original separation: the incubated venture returns to its parent, consolidating a business Standard Chartered partly built itself.

Sources

(9)
+3
Standard Chartered Paperjam FinanceFeeds Fintech Singapore CryptoWisser Builders in Fintech Weekly Blockchain Standard Chartered FinanceFeeds