Standard Chartered to Acquire Zodia Custody's Crypto Custody Business; Offer Accepted

According to Bloomberg, Standard Chartered has agreed to acquire the crypto asset custody business of its subsidiary Zodia Custody, with the non-binding acquisition offer accepted by other shareholders and noteholders. Following completion, Zodia Custody’s infrastructure business will continue operations as an independent software-as-a-service company under the new name Zodia Solutions, led by current CEO Julian Sawyer, with Standard Chartered’s venture division holding majority stake. The move will enable Standard Chartered to expand crypto custody services in new markets including the UK and Australia.