Standard Chartered to Absorb Zodia Custody, Spin Out Zodia Solutions
Cointelegraph
Standard Chartered is acquiring Zodia Custody's business while spinning off its infrastructure arm, Zodia Solutions, to enhance institutional digital asset services.Summary
Standard Chartered has reached an agreement to acquire the digital asset custody business of Zodia Custody. This strategic move consolidates the bank's custody operations while separating Zodia Solutions into an independent, SC Ventures-backed entity. Zodia Solutions will focus on providing bank-grade infrastructure to financial institutions as they expand their digital asset offerings. The transaction aims to unlock revenue and cost synergies without disrupting services for existing clients. This shift aligns with a broader industry trend of major banks seeking to integrate regulated cryptocurrency custody directly into their institutional service frameworks.
(Source：Cointelegraph)