{"id":907079,"date":"2026-05-20T08:12:38","date_gmt":"2026-05-20T13:12:38","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/20\/standard-chartered-targets-1t-crypto-custody-market-with-zodia-deal\/"},"modified":"2026-05-20T08:12:38","modified_gmt":"2026-05-20T13:12:38","slug":"standard-chartered-targets-1t-crypto-custody-market-with-zodia-deal","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/20\/standard-chartered-targets-1t-crypto-custody-market-with-zodia-deal\/","title":{"rendered":"Standard Chartered targets $1T crypto custody market with Zodia deal"},"content":{"rendered":"
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Standard Chartered, the British multinational bank, has decided to consolidate its cryptocurrency operations in\u2011house. As part of this move, the firm has made a non\u2011binding offer to acquire Zodia Custody, which provides secure digital asset storage for banks and investment firms. <\/span><\/p>\n

However, the plan will only take its final form once the regulators give their approval.<\/span><\/p>\n

As per the plan, the bank will integrate Zodia Custody<\/a> with its current digital asset services. <\/span>Additionally, it hopes to increase revenue from institutional crypto clients and cut costs by combining operations. <\/span><\/p>\n

T<\/span>his means Standard Chartered will not absorb all of Zodia\u2019s custody business. Instead, a new entity called \u2018Zodia Solutions\u2019 will be created under SC Ventures to manage the technology and infrastructure platform operations.<\/span><\/p>\n

Furthermore, it will assist institutions in launching digital asset products and sustaining their collaboration with Standard Chartered and other financial institutions.\u00a0<\/span>Remarking on the same, Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, noted,\u00a0<\/span><\/p>\n

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It [the acquisition] also reflects the group\u2019s continued focus on building an end-to-end Digital Assets offering and it further strengthens our position as the trusted bridge between TradFi and DeFi.<\/span><\/p>\n<\/blockquote>\n

What does this aquisition imply? <\/strong><\/h2>\n

It is clear that Standard Chartered recognizes the long-term potential of digital assets. Notably, it also showcases the desire for more strict oversight of crypto custody services as institutional adoption increases. <\/span><\/p>\n

As a result, traditional banks choosing the crypto route highlights the rise in crypto adoption.\u00a0<\/span>This coincided with Zodia Custody raising $36 million as it pursued international expansion back in 2023.<\/span><\/p>\n

Crypto custody market dynamics <\/strong><\/h2>\n

The announcement comes as the digital asset custody market surpasses $1 trillion, with projections of $7 trillion by 2035 at a compound annual growth rate of about 23.7%. Still, \u2018custody\u2019 ranks only second among firms\u2019 priorities for digital asset capabilities over the next two years.\u00a0<\/span><\/p>\n

\"digital<\/a>
Source: EY-Parthenom\/ Report<\/figcaption><\/figure>\n

All things considered, Standard Chartered\u2019s most recent action indicates that traditional banks are actively developing the infrastructure for crypto rather than passively observing it.<\/span><\/p>\n

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Final Summary <\/span><\/h2>\n