Standard Chartered has reached an agreement to acquire Zodia Custody, a digital asset custodian based in London. The deal, which received approval from Zodia Custody shareholders in May, involves integrating the company’s services into the bank’s existing digital asset operations.
The bank is actively expanding its global crypto offerings. It currently provides custody services in the UAE, Luxembourg, and Hong Kong, and recently announced plans to launch institutional crypto custody in Singapore. These efforts follow the establishment of a London-based trading desk for bitcoin and other cryptocurrencies in 2025.
The acquisition aligns with a broader trend among major financial institutions. Over the past 18 months, banks including State Street, U.S. Bank, and Citigroup have committed to providing direct crypto custody services, following the entry of BNY Mellon into the sector in 2022.
