Standard Chartered is buying out the remaining shares of Zodia Custody it doesn't already own, after the crypto custody firm's other investors accepted the bank's offer. The deal hands Standard Chartered full control of the London-based digital asset custodian, whose client list includes institutional investors and financial firms.
A digital asset custody bet
Zodia Custody launched in 2020 as a joint venture between Standard Chartered and the crypto exchange platform BC Technology Group. The bank initially held a minority stake but has been steadily increasing its ownership over the past two years. The latest acquisition covers the remaining equity and notes held by outside shareholders and noteholders, the company confirmed.
Standard Chartered has been expanding its crypto services, including a planned spot Bitcoin and Ether trading desk. Full ownership of Zodia gives the bank direct control over the custody infrastructure that underpins those offerings.
Why the full takeover now
The move comes as traditional banks race to capture institutional demand for digital assets. Custody — the secure storage of private keys — is a core requirement for large investors, and owning the entire company lets Standard Chartered integrate the service more tightly with its own operations.
Terms of the deal were not disclosed. Zodia Custody had raised outside capital from investors including SBI Holdings and venture funds, but those positions are now being bought out.
What happens next
The acquisition still requires regulatory approvals in the jurisdictions where Zodia operates, including the UK and Hong Kong. Standard Chartered expects the process to close by the end of the second quarter.
