Standard Chartered Moves To Take Full Control Of | Crypto News
TL;DR: Standard Chartered has signed definitive agreements to purchase Zodia Custody, deepening its push into institutional digital asset safekeeping.
Standard Chartered is bringing one of its better-known digital asset ventures nearer to the centre of the bank. On October 21, the banking group announced definitive agreements to purchase 100% of Zodia Custody Limited through Standard Chartered I H Limited.
The settlement follows a beforehand accepted non-binding offer and stays subject to regulatory approvals and customary closing circumstances. Until those steps are full, this is a signed acquisition settlement quite than a accomplished takeover.
Zodia’s regulated custody operations are meant to be built-in into Standard Chartered’s Securities Services actions, where the bank already providers conventional institutional belongings. Its software program and professional-services business will instead be separated into Zodia Solutions under SC Ventures, with participation from present institutional backers.
That break up tells an attention-grabbing story about where conventional finance sees worth in crypto. Keeping custody alongside established securities providers may make it simpler for institutional prospects to access both, while a separate technology business can provide infrastructure to a wider group of financial corporations. Standard Chartered says present Zodia custody purchasers ought to see no disruption during the method. The integration, not a speculative token launch, is the real development to watch.
Written by the News Desk and edited by Samuel Rae.
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