Standard Chartered Clinches Purchase Agreement for Crypto Custodian Zodia Custody

Standard Chartered, the British multinational bank, will purchase digital asset custodian Zodia Custody. The purchase comes months after an agreement was signed.

Zodia Custody, which is headquartered in London, said on Wednesday that the transaction will bring its service into Standard Chartered’s existing digital asset custody business.

Standard Chartered is broadening its crypto-related offerings around the world. Earlier this month, the bank said it intends to offer crypto custody for institutional clients in Singapore. The service is already available in the UAE, Luxembourg and Hong Kong.

“As institutional adoption of digital assets accelerates, custody is increasingly becoming part of the global banking landscape,” said Richard Clark, CEO of Zodia Custody.

Clark added: “Zodia Custody has built a strong business with the specialist expertise and capabilities to meet the needs of institutional clients.

“Bringing that expertise together with Standard Chartered’s global reach and established banking platform will strengthen its digital asset custody offering and provide institutions with greater access to trusted, regulated custody services worldwide.”

Ying Ying Tan, Standard Chartered’s global head of securities services and digital assets, said the transaction “further deepens our digital asset custody portfolio and reinforces our position as a leading provider of digital asset services globally.”

In May, Zodia Custody’s shareholders backed Standard Chartered’s offer for the firm.

The firm holds bitcoin and other digital assets in custody for institutions and asset managers.

Standard Chartered has moved deeper into crypto in recent years. In 2025, it launched a London-based trading desk for bitcoin and other cryptocurrencies, putting it among the first global banks to enter spot cryptocurrency trading.

Since then, it has introduced custody and trading services in markets around the world.

Top banks around the world are rolling out or planning to roll out crypto custody services. State Street, Standard Chartered, U.S. Bank and Citigroup have each committed to direct crypto custody over the past 18 months.

Crypto custody often serves as banks’ entry point into digital assets. BNY Mellon became the first major U.S. bank to provide digital asset custody services in 2022.