What to know:
- Standard Chartered weighs merging crypto custody with core digital unit operations.
- Zodia Custody to remain a SaaS platform despite internal restructuring plans.
- Bank expands crypto strategy with staking, stablecoins, and prime brokerage push.
Standard Chartered is reviewing a restructuring plan that may integrate parts of its crypto custody unit into its digital asset division, according to a Bloomberg report on Wednesday. The discussions reflect efforts to align custody services with existing operations.
The proposal focuses on merging overlapping custody functions within the bank. At the same time, Zodia Custody would continue to operate as a standalone software platform. Sources said the platform would still serve external institutions.
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Zodia Custody Growth Continues Amid Talks
Zodia Custody was launched in 2020 through a partnership with Northern Trust. The venture later attracted minority investors. These include Emirates NBD, National Australia Bank, and SBI Holdings.
The involvement of these minority investors in these discussions is also uncertain. According to sources familiar with the matter, an announcement could be made soon. However, the schedule is subject to internal review.
The company keeps growing worldwide. Zodia Custody provides its services from major financial centers like London, Singapore, and Hong Kong. The company has shown consistent growth in operations.
In 2025, Zodia Custody formed a partnership with Galaxy Digital. This partnership was centered around institutional staking services in Europe. During that period, the staking services were worth $4.2 billion.
Standard Chartered Deepens Digital Asset Strategy
The platform also connects to other market players. These include Bitfinex, Membrane Labs, and Fireblocks via Zodia Markets. These links support broader access to custody infrastructure.
The integration will offer a single custodian service for institutional clients. It can cover both traditional assets and cryptocurrencies. Such a solution will likely decrease the friction in the settlement and regulatory processes.
Standard Chartered has adopted its digital asset strategy in other ways. In January, the bank decided to create a crypto prime brokerage through SC Ventures. Besides, the bank has made partnerships in Asia.
Last November, the bank teamed up with DCS Card Centre in Singapore. The partnership was intended to launch stablecoin-based credit card services. Recently, Standard Chartered Bank signed a memorandum with Hana Financial Group.
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