Standard Chartered to Acquire Digital Asset Custodian Zodia Custody
The bank signed definitive agreements to buy full ownership of Zodia Custody, consolidating its regulated institutional crypto custody operations.
AfroEuropa Newsroom
AfroEuropa desk
Standard Chartered has entered into definitive agreements to acquire all of digital asset custodian Zodia Custody, according to BitKE. The move is part of the bank's effort to grow its regulated cryptocurrency offerings for institutional clients.
The transaction, which still requires regulatory approvals and must meet customary closing conditions, will fold Zodia's regulated custody operations in Singapore, Hong Kong, Australia, the United Arab Emirates and Luxembourg into Standard Chartered's Securities Services business. Financial terms of the deal were not disclosed.
Zodia's digital asset software and professional services operations will be carved out into a separate, independent company called Zodia Solutions, placed under the bank's venture-building unit, SC Ventures. That entity will keep supplying infrastructure to financial institutions looking to build and expand digital asset services.
Keep reading
Crypto Traders Value Reliance Jio IPO at About $110 Billion on Bitget Contract
A pre-IPO perpetual futures contract on Bitget prices Reliance's Jio Platforms roughly 4% above its IPO upper band as India's largest share sale stays open for subscription.
Other highlights
TSMC Seeks Chipmaking Gear Free of Chinese Rare-Earth Magnets
The world's largest contract chipmaker is reportedly asking equipment suppliers for machinery that avoids rare-earth components tied to China's export controls.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
