Standard Chartered weighs integrating Zodia Custody with corporate bank arm: Bloomberg

Standard Chartered is reportedly exploring a restructuring that would integrate portions of its majority-owned cryptocurrency custody subsidiary, Zodia Custody, into the bank's existing digital asset operations. The discussions aim to merge overlapping custody functions while allowing Zodia Custody to continue operating as a standalone software-as-a-service platform. Standard Chartered established Zodia Custody in late 2020 with Northern Trust Corp. and has since attracted other institutional investors. The potential merger plans, which could be announced soon, may or may not involve these minority shareholders. Despite structural considerations, Zodia Custody has been expanding, with offices in major global hubs and a partnership with Galaxy Digital for institutional staking services. This move aligns with Standard Chartered's broader expansion into digital assets, including establishing a crypto prime brokerage and exploring stablecoin ventures.

(Source：The Block)