News about Standard Chartered

Standard Chartered has signed definitive agreements to acquire the regulated operating entities of Zodia Custody, subject to regulatory approvals and closing conditions. The signing follows shareholders' acceptance in May of the bank's non-binding offer. Under the deal, Standard Chartered would acquire 100% of Zodia Custody UK Limited, the parent of Zodia's regulated entities in Singapore, Hong Kong, Australia, Luxembourg and the UAE, and fold its crypto custody business into Securities Services operations. Zodia's software and professional-services assets would move to Zodia Solutions, an independent entity under SC Ventures that provides digital asset infrastructure for financial institutions. The move extends the bank's crypto push, which includes launching spot Bitcoin and Ether trading for institutional clients in the UAE in September.