Overview
- Standard Chartered said Monday its non-binding offer won backing from Zodia shareholders and noteholders, with completion still subject to regulatory approval.
- The bank plans to place the regulated, client-facing crypto safekeeping inside its Financing and Securities Services division.
- The integration would give institutions a single bank relationship for holding digital assets, which can simplify onboarding and link custody with trading and tokenized products.
- Zodia’s technology platform will become a separate SaaS business called Zodia Solutions under SC Ventures, led by CEO Julian Sawyer, while minority investors continue talks over future stakes.
- The reorg aims to cut overlapping systems and sharpen the bank’s position against BNY Mellon, State Street and crypto-native custodians as demand rises following spot Bitcoin ETFs and clearer rules such as the EU’s MiCA.