Key Takeaways
- Banking giant Standard Chartered signed agreements Oct. 21 to acquire 100% of Zodia Custody.
- Zodia Custody launched in 2020 with Northern Trust and expanded into five international markets.
- Zodia Solutions will separate from the custody business as an independent venture under SC Ventures.
Standard Chartered Moves to Acquire Zodia Custody, Bringing Six-Year Crypto Venture Full Circle
What began as a banking experiment in 2020 is returning to its institutional roots. Standard Chartered announced Wednesday that it has signed definitive agreements to acquire 100% of Zodia Custody, the digital asset custodian it launched alongside Northern Trust nearly six years ago.
After expanding across international markets, raising millions in outside capital, and establishing a regulated custody franchise, Zodia‘s operations will now join Standard Chartered’s banking infrastructure, while its technology business prepares for an independent future.
From Banking Experiment to Global Custodian
Zodia’s origins trace to SC Ventures in 2018, when Standard Chartered executive Maxime de Guillebon helped develop institutional crypto custody infrastructure. Formally launched in December 2020 with Northern Trust, the venture secured UK regulatory registration in July 2021.
Under CEO Julian Sawyer, who joined in January 2023, Zodia expanded internationally after securing $36 million in funding led by SBI Holdings that April. Its operations eventually extended into Singapore, Hong Kong, Australia, Luxembourg, and the UAE.
Standard Chartered Brings Custody Home
Under Wednesday’s agreements, Standard Chartered I H Limited will acquire Zodia Custody Limited, subject to regulatory approvals and customary closing conditions. Financial terms remain undisclosed. Ying Ying Tan, Standard Chartered’s global head of securities services and digital assets, stated:
“The acquisition of Zodia Custody further deepens our digital asset custody portfolio and reinforces our position as a leading provider of digital asset services globally.”
Zodia CEO Richard Clark said combining the custodian’s specialized expertise with Standard Chartered’s international banking network would strengthen its institutional offering and provide clients with “greater access to trusted, regulated custody services worldwide.”
Zodia’s Technology Business Takes Another Path
Zodia’s software operations will become Zodia Solutions, an independent SC Ventures-backed company supported by several institutional investors. Craig Perrin, Zodia Solutions’ CEO, explained:
“Financial institutions are moving beyond digital asset pilots towards operating services at scale. They need trusted technology partners with the expertise and infrastructure to support them.”
Existing custody clients face no anticipated disruption. Nearly six years after Standard Chartered helped establish Zodia as an independent venture, its regulated custody business is coming home.
The Zodia acquisition follows Standard Chartered’s aggressive digital asset expansion in 2026. Earlier in October, the bank launched direct bitcoin and ethereum trading for affluent UAE clients, with custody and settlement handled internally.
It has also expanded institutional services across Singapore, Luxembourg, and Hong Kong, secured European MiCA authorization, and strengthened partnerships with the crypto firms Coinbase, Circle, LMAX, and Ripple. These moves reflect its strategy to bring digital assets deeper into traditional banking.
