Standard Chartered Signs Binding Deal to Buy All of Crypto Custodian Zodia Custody

Standard Chartered has signed definitive agreements to buy Zodia Custody , turning the non-binding offer it disclosed in May into a binding deal for the crypto custodian its venture arm backed. Under the agreements, which the bank announced on Wednesday, its entity Standard Chartered I H Limited will take 100% of Zodia Custody Limited. That company is the parent of Zodia’s regulated custody businesses in five jurisdictions: Luxembourg, Singapore, Hong Kong, Australia and the UAE. The deal still needs regulatory approvals and has to meet customary closing conditions.