Zodia Custody, the crypto custodian launched in 2020 as a joint venture of SC Ventures and Northern Trust, is moving fully inside the bank: Standard Chartered has entered into definitive agreements to acquire 100% of the company. The signing follows the May 18 acceptance of the bank's non-binding offer.

The deal covers Zodia Custody Limited, parent of regulated entities in Singapore, Hong Kong, Australia, the UAE and Luxembourg. After closing, the custody business will be integrated into Standard Chartered's Securities Services unit. Financial terms were not disclosed.

Zodia's software and professional services arm will be carved out into Zodia Solutions, a new independent entity under SC Ventures backed by Northern Trust, NAB Ventures, SBI Ventures, Emirates NBD and Investcorp.

The transaction still requires regulatory approval. Existing Zodia Custody clients will continue to be serviced as usual, while the bank separately plans to launch institutional digital asset custody in Singapore by the end of 2026.