Standard Chartered looks to acquire Zodia Custody

Standard Chartered is considering acquiring the cryptocurrency custody business of its subsidiary, Zodia Custody, Bloomberg reported. According to a statement released today, the acquisition proposal has received the consent of Zodia Custody's major shareholders and creditors. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, explained that integrating Zodia's custody business with the bank's own crypto operations would enable expansion into new markets, including the UK and Australia. Meanwhile, Zodia's infrastructure business will be spun off into a separate company called Zodia Solutions.