Standard Chartered Agrees Deal for Full Ownership of Zodia Custody
Standard Chartered moves to own Zodia Custody outright
Standard Chartered has signed a deal to take full ownership of Zodia Custody, according to The Defiant. Zodia Custody is a crypto custody business, which means it holds digital assets such as bitcoin and other tokens on behalf of clients.
The deal also reorganizes the business. Custody operations will join Standard Chartered's Securities Services business. Software and professional services will move to a separate entity called Zodia Solutions, under SC Ventures.
How the business will be split
- Standard Chartered signed a deal to take full ownership of Zodia Custody.
- Custody operations will be folded into the bank's Securities Services business.
- Software and professional services will sit under a new entity, Zodia Solutions, within SC Ventures.
What The Defiant reported
The Defiant reported the ownership deal and the plan to divide the custody operations from the software and professional services side. The report describes the custody work moving to the bank's Securities Services arm, while Zodia Solutions, part of SC Ventures, takes on software and professional services.
What is confirmed
According to the supplied source, Standard Chartered has signed a deal to take full ownership of Zodia Custody. The custody operations are set to join the bank's Securities Services business, and software and professional services are set to move to Zodia Solutions under SC Ventures.
What is still unclear
The supplied material does not give the value of the deal, the date it was signed or is expected to close, or the names of any other parties involved. It also does not explain what will happen to existing Zodia Custody clients or staff.
What happens next
The source does not state a timeline or any next steps beyond the signed deal and the planned split of the business.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.