Standard Chartered Integrates Zodia Custody Services

British banking giant Standard Chartered has signed a definitive agreement to acquire digital asset custodian Zodia Custody, according to an announcement released on Wednesday. The transaction comes several months after shareholders at London-based Zodia Custody approved the bank's purchase offer in May. Under the terms of the deal, Zodia Custody's bitcoin and digital asset framework will be integrated directly into Standard Chartered's institutional network.

The takeover represents a key consolidation move in the market for institutional crypto custody, enabling the multinational bank to bolster its existing digital asset services globally. Zodia Custody specializes in safeguarding digital assets for institutional clients and professional asset managers, bringing established operational expertise to the acquiring institution.

Accelerating Global Institutional Crypto Custody Expansion

The acquisition aligns with Standard Chartered's aggressive push into the digital asset ecosystem over recent years. Earlier this month, the bank announced plans to roll out institutional crypto custody in Singapore, complementing its established custody footprint across Luxembourg, Hong Kong, and the United Arab Emirates.

Beyond custody, Standard Chartered launched a dedicated trading desk for bitcoin and cryptocurrencies in London in 2025, positioning itself among the pioneer global traditional banks to facilitate spot cryptocurrency execution. According to Richard Clark, Chief Executive Officer of Zodia Custody, bringing specialist institutional custody capabilities under Standard Chartered's balance sheet and global platform will provide institutional clients with broader access to regulated digital asset services.

Ying Ying Tan, global head of securities services and digital assets at Standard Chartered, noted that the deal deepens the bank's custody portfolio while reinforcing its market position. The broader banking sector has shown a similar trajectory, with major institutions like State Street, U.S. Bank, and Citigroup committing to direct digital asset custody solutions over the past 18 months, following BNY Mellon's initial move into the sector back in 2022.