finance
Standard Chartered to Acquire Remaining Stake in Zodia Custody
Standard Chartered will buy the shares of its cryptocurrency custodian subsidiary that it does not already own. The bank's non-binding offer was accepted by the firm's other shareholders and noteholders.
May 18, 7:53 AM·1m read1 source
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Standard Chartered announced on Monday that it will acquire the remaining shares of Zodia Custody, its cryptocurrency custodian subsidiary. The London-based bank's non-binding offer has been accepted by the firm's other shareholders and noteholders. Financial terms were not disclosed.
The bank has been a majority shareholder of Zodia Custody since 2021. Minority shareholders include Northern Trust, Emirates NBD, National Australia Bank and SBI Holdings. Reports last month indicated the bank was exploring a full takeover. Zodia Custody's custody activities will be integrated into Standard Chartered's own digital asset custody business.
Its institutional crypto infrastructure platform will be separated and the assets transferred to an independent entity, Zodia Solutions, which will exist under Standard Chartered's venture arm. SC Ventures also owns a stake in Zodia Markets.
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