Standard Chartered Signs Agreement To Acquire Crypto Custodian Zodia Custody

British multinational Standard Chartered will buy digital asset custodian Zodia Custody, months after signing an agreement. 

A statement from London-based Zodia Custody on Wednesday said that the deal will see the company’s service integrated into Standard Chartered’s existing digital asset custody activities. 

Standard Chartered is expanding its crypto-related offerings worldwide. Earlier this month, it said it had plans to offer crypto custody services for institutional clients in Singapore. It already offers the service in the UAE, Luxembourg, and Hong Kong. 

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

He 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, global head of securities services and digital assets at Standard Chartered, added that the deal “further deepens our digital asset custody portfolio and reinforces our position as a leading provider of digital asset services globally.”