Standard_Chartered acquires Zodia_Custody business

Standard Chartered>>> has announced the acceptance of its non-binding offer to acquire the custody business of Zodia Custody>>>, a digital asset custodian it co-founded. This strategic move aims to consolidate Standard Chartered>>>'s digital asset custody operations, unlock revenue and cost synergies, and expand its global digital asset custody portfolio, with a focus on markets like the United Kingdom>>> and Australia>>>. As part of the transaction, Zodia Custody>>>'s institutional infrastructure platform will be spun off into a new independent entity called Zodia Solutions>>>, which will operate as a SaaS platform providing bank-grade infrastructure to financial institutions. VSR Ventures Private Limited>>>, Standard Chartered>>>'s innovation arm, will hold a majority stake in Zodia Solutions>>>. Existing minority shareholders of Zodia Custody>>>, including Northern Trust>>>, Nubank>>>, Emirates (airline)>>>, and National Australia Bank>>>, are in discussions regarding future stakes in Zodia Solutions>>>. This reorganization reflects a broader industry trend where major banks like BNY>>> and Morgan Stanley>>> are bringing crypto custody services in-house to meet institutional demand for regulated digital asset offerings.