Standard Chartered Moves to Acquire Crypto Custodian with Australian Operations

Requirement Chartered has actually signed conclusive arrangements to purchase Zodia Custody, a crypto custodian its endeavor arm accepted release with Northern Trust in 2020, consisting of the custodian’s Australian company.

The bank revealed the contracts on 21 October, after Zodia’s investors and noteholders accepted its non-binding deal in May. Group entity Standard Chartered I H Limited will take 100% of Zodia Custody Limited. The offer still requires regulative approvals and should satisfy traditional closing conditions. The bank did not reveal the offer’s cost or a conclusion date.

Zodia Custody Limited is the moms and dad of what Standard Chartered refers to as controlled running entities in Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg.

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Custody Moves Inside the Bank

As soon as the offer finishes, Zodia’s custody service will be folded into the bank’s existing digital possession custody operations within Securities Services. Requirement Chartered currently runs that service in the UAE, Hong Kong and Luxembourg, where it opened an EU crypto custody entity in January 2025. It set out intend on 8 October to provide the exact same custody service in Singapore.

Ying Tan ended up being the bank’s international head of securities services and digital properties on 14 October. She was successful Margaret Harwood-Jones, who now runs the bank’s UK and Europe service. Tan stated the purchase deepens Standard Chartered’s digital property custody portfolio.

The bank stated it anticipates no disturbance for customers, and existing Zodia custody customers will continue to be acted as typical.

Zodia’s software application and expert services service is being divided off into Zodia Solutions, a brand-new independent business under that endeavor arm, SC Ventures. Zodia Solutions, led by president Craig Perrin, will keep providing facilities to banks, consisting of Standard Chartered.

Zodia’s Australian Arm

Zodia Custody Australia opened in October 2023, serving business customers in Australia and New Zealand. National Australia Bank checked its platform in a nine-week evidence of idea, and noted blockchain company DigitalX signed on as the very first consumer.

NAB’s endeavor arm then invested a concealed quantity in Zodia Custody in June 2024.

In Australia, platforms that hold digital tokens on behalf of customers will require an Australian monetary services licence under the Corporations Amendment (Digital Assets Framework) Act 2026, according to ASIC.

That licensing program begins on 8 April 2027. Licence applications from platforms currently running are due by 7 October 2027, and those platforms can keep trading while ASIC evaluates them.

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