Standard Chartered moves to fully absorb Zodia Custody

The acquisition, executed through the bank’s subsidiary Standard Chartered I H Limited, brings Zodia’s established presence in Singapore, Hong Kong, Australia, the UAE, and Luxembourg under the bank’s direct control. While the financial terms remain undisclosed, the transaction is subject to final regulatory approvals. The move signals a shift in strategy, as Standard Chartered works to streamline its custody services while separating Zodia’s software and professional services into a new entity, Zodia Solutions, which will operate independently under the bank’s venture arm, SC Ventures.

Zodia Solutions will focus on providing digital asset infrastructure to financial institutions, with Craig Perrin appointed as its CEO. Meanwhile, Richard Clark has stepped up to lead Zodia Custody following the September departure of Julian Sawyer. Despite initial delays—the deal missed its original August target—the bank maintains that existing client services will continue without disruption. This integration aligns with Standard Chartered’s broader push into digital finance, which recently included the launch of Bitcoin and Ether trading services for professional clients in the UAE and plans for institutional custody in Singapore by 2026.