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Bloomberg: Standard Chartered plans to bring Zodia crypto custody operations in-house
Mars Finance reports, citing Bloomberg, that Standard Chartered plans to bring its client custody business of Zodia Custody back under its Digital Assets division within its Corporate and Investment Bank (CIB), announcing it as early as this month. After the reorganization, Zodia will continue operating only as an independent custody technology software-as-a-service (SaaS) platform. Standard Chartered co-founded Zodia Custody in late 2020 through its innovation arm SC Ventures together with Northern Trust, later attracting a handful of equity investors such as SBI Holdings, National Australia Bank, and Emirates NBD. It currently has about 150 employees across seven offices worldwide.