Standard Chartered signs binding deal to acquire Zodia Custody

Standard Chartered signed definitive agreements on October 21, 2026, to acquire 100% of digital asset custodian Zodia Custody Limited, expanding its regulated custody presence in Luxembourg, Singapore, Hong Kong, Australia, and the UAE. Zodia's software operations will be spun off into Zodia Solutions under SC Ventures, supported by seven institutional investors. The acquisition remains subject to regulatory approvals.

Standard Chartered acquires Zodia Custody

• ▪Standard Chartered's subsidiary Standard Chartered I H Limited signed definitive agreements on October 21, 2026, to acquire 100% of Zodia Custody Limited
• ▪Standard Chartered's acquisition of Zodia Custody Limited remains subject to regulatory approvals and customary closing conditions without disclosed financial terms
• ▪Standard Chartered originally targeted definitive acquisition agreements for June 2026 and transaction completion by August 2026 after Zodia Custody shareholders and noteholders accepted its initial non-binding proposal in May 2026

Standard Chartered crypto initiatives

• ▪Standard Chartered will integrate Zodia Custody's regulated business into its Securities Services division upon completion of its acquisition of Zodia Custody
• ▪Standard Chartered established a spot cryptocurrency trading desk in London in 2025
• ▪Standard Chartered announced plans in October 2026 to launch institutional cryptocurrency custody services in Singapore by the end of 2026

Zodia Solutions spinoff and leadership

• ▪Craig Perrin was appointed chief executive officer of the newly created spinoff company Zodia Solutions
• ▪Investors backing Zodia Solutions include NAB Ventures, Northern Trust, SBI Ventures Asset, Further Ventures' Q Studio, Emirates NBD, Investcorp's Zodia Investments, and Zodia Holdings
• ▪Standard Chartered said Zodia Custody's digital asset software and professional services operations will be spun off into Zodia Solutions, a standalone entity under SC Ventures

Zodia Custody operations and licensing

• ▪Zodia Custody operates regulated cryptocurrency custody entities across Luxembourg, Singapore, Hong Kong, Australia, and the United Arab Emirates
• ▪Zodia Custody obtained a payment institution license in Luxembourg in June 2026, enabling regulated stablecoin custody and transfer services across the European Union

Executive leadership changes

• ▪Former Zodia Custody Chief Revenue Officer Richard Clark became Chief Executive Officer in September 2026, succeeding Julian Sawyer
• ▪Ying Ying Tan succeeded Margaret Harwood-Jones as Standard Chartered's Global Head of Securities Services on October 14, 2026, while Harwood-Jones became chief executive officer for UK and Europe

Major banks adopting crypto custody

• ▪BNY Mellon introduced digital asset custody services in 2022, becoming the first major United States bank to offer cryptocurrency custody
• ▪State Street, U.S. Bank, and Citigroup committed to direct cryptocurrency custody services in the 18 months prior to October 2026