Standard Chartered has officially brought Zodia Custody into its own fold.
On 21 Oct, Standard Chartered announced that it had signed definitive agreements to acquire 100% of Zodia Custody Limited (including its licensed entities in Singapore, Hong Kong, Australia, the UAE and Luxembourg), integrating it into its Securities Services digital-asset custody business. The software business will be spun off into Zodia Solutions, under SC Ventures.
The deal still requires regulatory approval and customary closing conditions; the price was not disclosed. A bank bringing custody in-house is a step beyond continuing with the usual “strategic investment” rhetoric—the institutional custody narrative has moved forward another notch. $BTC
Screening only, not education. This is not investment advice.
Source: sc.com, 21 Oct press release
On 21 Oct, Standard Chartered announced that it had signed definitive agreements to acquire 100% of Zodia Custody Limited (including its licensed entities in Singapore, Hong Kong, Australia, the UAE and Luxembourg), integrating it into its Securities Services digital-asset custody business. The software business will be spun off into Zodia Solutions, under SC Ventures.
The deal still requires regulatory approval and customary closing conditions; the price was not disclosed. A bank bringing custody in-house is a step beyond continuing with the usual “strategic investment” rhetoric—the institutional custody narrative has moved forward another notch. $BTC
Screening only, not education. This is not investment advice.
Source: sc.com, 21 Oct press release