Julian Sawyer, the chief executive of crypto custody firm Zodia, said every bank will soon have no choice but to hold digital assets. His comments come as Standard Chartered moves to take full control of the company, with a signing targeted for the end of June and completion by the end of August.
Why the shift is coming
Sawyer didn't mince words. He told reporters that the traditional banking model is about to collide with crypto in a way that leaves no lender on the sidelines. "Every single bank will soon need to hold digital assets," he said. The statement lands as more mainstream financial institutions explore tokenization, stablecoins, and blockchain-based settlement rails.
Zodia itself is a product of that evolution. The firm was launched as a joint venture between Standard Chartered and Northern Trust, offering institutional-grade crypto custody. Now the British bank wants full ownership.
What the acquisition means
Standard Chartered's move to buy out the remaining stake signals a deeper bet on digital asset infrastructure. The deal is structured in two phases: a signing expected by the end of June, followed by a completion deadline at the end of August. Financial terms were not disclosed.
For Zodia, becoming a wholly owned subsidiary of a global bank could open doors. It gives the custody firm direct access to Standard Chartered's corporate and institutional client base across Asia, Africa, and the Middle East.
Banks catching up
Sawyer's prediction isn't just talk. A growing number of banks have started offering crypto services, either through custody, trading, or tokenized deposits. But most still treat digital assets as a niche sideline. Sawyer argued that won't last. As client demand grows and regulators start providing clearer frameworks, holding crypto will become a standard part of bank balance sheets.
The industry is watching to see how quickly other major banks follow Standard Chartered's lead. For now, the timeline is set: by September, Zodia will be fully in-house, and Sawyer's message to the rest of the banking world is already on the record.
