Standard Chartered has signed an agreement to acquire digital asset custodian Zodia Custody, according to a statement from the London-based company on Wednesday. The deal will see Zodia Custody's service integrated into Standard Chartered's existing digital asset custody activities.
The acquisition follows approval by Zodia Custody shareholders in May of Standard Chartered's offer to buy the company.
Zodia Custody provides custody services for bitcoin and other digital assets to institutional and asset managers.
Expanding Global Custody Offerings
Standard Chartered is expanding its crypto-related offerings worldwide. Earlier this month, the bank said it plans to offer crypto custody services for institutional clients in Singapore. It already offers the service in the UAE, Luxembourg, and Hong Kong.
"As institutional adoption of digital assets accelerates, custody is increasingly becoming part of the global banking landscape," said Zodia Custody CEO Richard Clark. He added that bringing Zodia's expertise together with Standard Chartered's global reach and established banking platform will strengthen its digital asset custody offering and provide institutions with greater access to trusted, regulated custody services worldwide.
Ying Ying Tan, global head of securities services and digital assets at Standard Chartered, said the deal "further deepens our digital asset custody portfolio and reinforces our position as a leading provider of digital asset services globally."
Broader Banking Trend
Standard Chartered has deepened its involvement in the crypto space in recent years. In 2025, the bank set up a trading desk for bitcoin and other cryptocurrencies in London, making it one of the first global banks to enter spot cryptocurrency trading. It has since debuted custody and trading services in countries around the world.
Top banks worldwide are debuting or planning to debut crypto custody services, with State Street, Standard Chartered, U.S. Bank, and Citigroup all committing to direct crypto custody over the past 18 months. Crypto custody is often a starting point for banks moving into the digital asset space. BNY Mellon in 2022 became the first major U.S. bank to offer digital asset custody services.
