Standard Chartered has signed a deal to take full ownership of Zodia Custody, the digital asset custodian it helped launch. Under the agreement, Zodia's custody operations will be folded into Standard Chartered's Securities Services business, while its software and professional services will move to Zodia Solutions under SC Ventures.
The move consolidates the bank's grip on a crypto custody venture it previously backed alongside other investors. It also splits Zodia's technology and advisory work from its regulated custody business, putting each under a different part of the Standard Chartered group.
What changes for Zodia's custody clients
For clients using Zodia Custody to safekeep digital assets, the day-to-day contact may shift as the custody team becomes part of Securities Services. That division already handles traditional custody, fund administration and related services for institutional clients. Bringing Zodia's digital asset custody into that fold puts crypto safekeeping alongside the bank's existing securities handling rather than in a separate venture.
The deal doesn't spell out changes to fees, service levels or client contracts. A Standard Chartered spokesperson wasn't available for comment beyond the announcement. Zodia Custody had operated as a standalone entity with its own branding and management; those details will be absorbed into the larger securities unit.
Zodia Solutions keeps the software and advisory work
The software and professional services side of Zodia — the tools and consulting that help institutions manage digital assets — will move to Zodia Solutions, which sits under SC Ventures, the bank's innovation and ventures arm. That keeps the product-building and advisory work at arm's length from the regulated custody operations, a structure that could let Zodia Solutions serve clients beyond Standard Chartered's own custody business.
SC Ventures has incubated several ventures for the bank, and housing Zodia Solutions there suggests the software side will continue to operate with some independence. It's not clear whether Zodia Solutions will keep the Zodia name for client-facing products or how many staff will transfer.
Why the bank is folding custody in-house
Standard Chartered has been building out digital asset services for institutional clients, and full ownership of Zodia Custody gives it direct control over a business it already helped fund. Rather than running custody as a separate venture with outside shareholders, the bank now brings it under Securities Services, where it can be sold alongside traditional custody offerings.
That kind of bundling matters for clients who want one provider for both conventional and digital assets. It also simplifies oversight: the bank's existing custody controls and compliance teams can be applied to digital assets without a separate corporate layer.
The transaction is subject to customary approvals, though the announcement didn't specify which regulators must sign off or when the deal is expected to close. Zodia Custody has operated in multiple jurisdictions, and any change of control typically requires regulatory consent in each market where it holds a license.
What happens next
Clients and counterparties will be watching for details on how the transfer affects existing custody arrangements, including whether contracts will be reassigned to Standard Chartered or remain with a Zodia entity. The bank hasn't said whether Zodia Custody will continue to operate under its own name during a transition period.
For now, the deal is signed but not closed. The next concrete step is regulatory approval, and until that's granted, Zodia Custody's clients are still dealing with the same legal entity they signed up with.
