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Project Overview
Zodia Custody is an institutional-grade crypto custody solution developed by Standard Chartered in association with Northern Trust. It provides custody for crypto assets, designed to enable institutions to safely invest in the emerging assets that are transforming how financial markets operate.
Standard Chartered Signs Final Agreement to Acquire Zodia Custody, Plans to Spin Off Software Business
Standard Chartered has signed a final agreement to acquire 100% equity of crypto asset custody institution Zodia Custody, with the transaction still pending regulatory approval. Under the arrangement, Zodia Custody's custody business will be integrated into Standard Chartered, while its software business will be transferred to a standalone company backed by SC Ventures, the venture capital arm of Standard Chartered. (The Block)
Zodia Custody CEO Julian Sawyer Steps Down, Transitions to Strategic Advisor
Odaily News: Institutional crypto asset custodian Zodia Custody has announced that CEO Julian Sawyer is stepping down from his role as CEO and transitioning to strategic advisor. Sawyer stated that with Standard Chartered planning to acquire Zodia's custody business and establish Zodia Solutions, this is an appropriate time for a handover of day-to-day management.Zodia Custody Chief Revenue Officer Richard Clark will oversee the business transition to Standard Chartered and take over the custody business; current executives Craig Perrin and Anoosh Arevshatian will be responsible for building Zodia Solutions. The previous plan had Sawyer serving as CEO of Zodia Solutions, marking an adjustment from the arrangement announced in May.Zodia Custody stated that the transaction remains subject to regulatory approval and customary closing conditions. Headquartered in London, the company provides digital asset custody, wallet infrastructure, staking, and over-the-counter settlement services to financial institutions and asset management firms. (CoinDesk)
Zodia Custody Receives Luxembourg Payment Institution License, Expanding Stablecoin Service Footprint in the EU
: Institutional-grade digital asset custody platform Zodia Custody has announced that it has obtained a payment institution license from the Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). This authorization allows the company to compliantly provide custody and transfer services for electronic money tokens (EMTs, i.e., stablecoins) within the European Union.Zodia Custody stated that this approval represents a further expansion on its existing MiCA license, enhancing its digital asset service capabilities for institutional clients. The company believes that as the use of stablecoins in payment settlement, liquidity management, and corporate treasury operations continues to grow, stablecoin custody and transfer capabilities will become a core component of digital asset infrastructure providers.Founded in 2020, Zodia Custody focuses on the institutional client market. Its shareholders include institutions such as Standard Chartered, Northern Trust, SBI Holdings, Emirates NBD, and National Australia Bank. Following the approval of this Luxembourg license, Zodia Custody has now obtained relevant regulatory permissions in multiple jurisdictions, including the UK, UAE, Hong Kong SAR, Singapore, Australia, and the EU. (The Block)
Analysis: After the Binance Hack, Bitcoin Fell Only About 2%, Far Below the 26% Drop After FTX
21Shares has released an analysis report on the Binance hack, stating that on October 29, Binance suffered an attack of approximately $6.3 billion, of which about $3 billion in stolen assets have now been frozen, and Binance has committed to bearing all losses. Within 24 hours after the incident, Bitcoin fell slightly more than 2%, significantly lower than the roughly 26% decline Bitcoin experienced after the FTX incident in November 2022. 221Shares emphasized that this incident was a security breach affecting Binance as a single company, and that the Bitcoin network itself was not attacked. Binance stated that it will cover all losses through the SAFU fund and corporate funds. Calculated at a Bitcoin price of approximately $78,509, the 15,000 BTC held by the SAFU fund is worth about $1.18 billion, which can cover about 36% of the losses on unfrozen assets, with the remaining portion to be borne by corporate funds. The report also mentioned that Chainalysis has high confidence that the attack is linked to North Korea, but Binance and government agencies have not yet officially confirmed the attribution.In addition, 21Shares stated that the assets of its physically backed ETPs and ETFs are held in cold storage by third-party custodians such as BitGo, Coinbase Custody, Anchorage Digital, and Zodia Custody, and are not kept in exchange accounts. Therefore, they were not affected by this incident, and all of the company's products are trading normally.
Standard Chartered Signs Final Agreement to Acquire Zodia Custody, Plans to Spin Off Software Business
Standard Chartered has signed a final agreement to acquire 100% equity of crypto asset custody institution Zodia Custody, with the transaction still pending regulatory approval. Under the arrangement, Zodia Custody's custody business will be integrated into Standard Chartered, while its software business will be transferred to a standalone company backed by SC Ventures, the venture capital arm of Standard Chartered. (The Block)
Visa, Stripe, and Zodia Custody Become Early Validators of the Tempo Payment Blockchain
According to The Block, Visa, Stripe, and Zodia Custody—a digital asset custody firm backed by Standard Chartered Bank—have become the first validators on the Tempo payment blockchain. Tempo is an Ethereum-compatible Layer 1 blockchain designed specifically for high-throughput payments and stablecoin settlement, primarily targeting large institutions. Validators are responsible for verifying, ordering, and finalizing on-chain transactions, and are typically mature organizations with global operational capabilities. Tempo was incubated by Stripe and Paradigm, launched its private testnet in September 2025, and closed a $500 million Series A funding round in October at a valuation of approximately $5 billion. Recently, Tempo introduced its “Agent Payments” protocol—executed by AI agents—and has attracted infrastructure integrations including RedStone.
Related news
Analysis: After the Binance Hack, Bitcoin Fell Only About 2%, Far Below the 26% Drop After FTX
21Shares has released an analysis report on the Binance hack, stating that on October 29, Binance suffered an attack of approximately $6.3 billion, of which about $3 billion in stolen assets have now been frozen, and Binance has committed to bearing all losses. Within 24 hours after the incident, Bitcoin fell slightly more than 2%, significantly lower than the roughly 26% decline Bitcoin experienced after the FTX incident in November 2022. 221Shares emphasized that this incident was a security breach affecting Binance as a single company, and that the Bitcoin network itself was not attacked. Binance stated that it will cover all losses through the SAFU fund and corporate funds. Calculated at a Bitcoin price of approximately $78,509, the 15,000 BTC held by the SAFU fund is worth about $1.18 billion, which can cover about 36% of the losses on unfrozen assets, with the remaining portion to be borne by corporate funds. The report also mentioned that Chainalysis has high confidence that the attack is linked to North Korea, but Binance and government agencies have not yet officially confirmed the attribution.In addition, 21Shares stated that the assets of its physically backed ETPs and ETFs are held in cold storage by third-party custodians such as BitGo, Coinbase Custody, Anchorage Digital, and Zodia Custody, and are not kept in exchange accounts. Therefore, they were not affected by this incident, and all of the company's products are trading normally.
Standard Chartered Signs Final Agreement to Acquire Zodia Custody, Plans to Spin Off Software Business
Standard Chartered has signed a final agreement to acquire 100% equity of crypto asset custody institution Zodia Custody, with the transaction still pending regulatory approval. Under the arrangement, Zodia Custody's custody business will be integrated into Standard Chartered, while its software business will be transferred to a standalone company backed by SC Ventures, the venture capital arm of Standard Chartered. (The Block)
Zodia Custody CEO Julian Sawyer Steps Down, Transitions to Strategic Advisor
Odaily News: Institutional crypto asset custodian Zodia Custody has announced that CEO Julian Sawyer is stepping down from his role as CEO and transitioning to strategic advisor. Sawyer stated that with Standard Chartered planning to acquire Zodia's custody business and establish Zodia Solutions, this is an appropriate time for a handover of day-to-day management.Zodia Custody Chief Revenue Officer Richard Clark will oversee the business transition to Standard Chartered and take over the custody business; current executives Craig Perrin and Anoosh Arevshatian will be responsible for building Zodia Solutions. The previous plan had Sawyer serving as CEO of Zodia Solutions, marking an adjustment from the arrangement announced in May.Zodia Custody stated that the transaction remains subject to regulatory approval and customary closing conditions. Headquartered in London, the company provides digital asset custody, wallet infrastructure, staking, and over-the-counter settlement services to financial institutions and asset management firms. (CoinDesk)
FundBank renames to IRACE Digital and acquires Tenet Bank
FundBank has been renamed to IRACE Digital and has acquired Tenet Bank in the Cayman Islands. The transaction will incorporate digital asset banking and fintech-focused clients into IRACE's existing institutional banking operations. Former Zodia Custody CEO John Cronin has been appointed as Global CEO, and IRACE is expanding into custody, liquidity, and trading infrastructure. (CoinDesk)
Zodia Custody Receives Luxembourg Payment Institution License, Expanding Stablecoin Service Footprint in the EU
: Institutional-grade digital asset custody platform Zodia Custody has announced that it has obtained a payment institution license from the Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). This authorization allows the company to compliantly provide custody and transfer services for electronic money tokens (EMTs, i.e., stablecoins) within the European Union.Zodia Custody stated that this approval represents a further expansion on its existing MiCA license, enhancing its digital asset service capabilities for institutional clients. The company believes that as the use of stablecoins in payment settlement, liquidity management, and corporate treasury operations continues to grow, stablecoin custody and transfer capabilities will become a core component of digital asset infrastructure providers.Founded in 2020, Zodia Custody focuses on the institutional client market. Its shareholders include institutions such as Standard Chartered, Northern Trust, SBI Holdings, Emirates NBD, and National Australia Bank. Following the approval of this Luxembourg license, Zodia Custody has now obtained relevant regulatory permissions in multiple jurisdictions, including the UK, UAE, Hong Kong SAR, Singapore, Australia, and the EU. (The Block)
Standard Chartered to Acquire Cryptocurrency Custody Business of Its Subsidiary Zodia Custody
According to Bloomberg, Standard Chartered plans to acquire the crypto custody business of its majority-owned subsidiary Zodia Custody Ltd. to expand the bank’s digital asset services. The announcement states that Standard Chartered’s non-binding acquisition offer has been accepted by Zodia Custody’s other shareholders and note holders. Bloomberg previously reported this transaction proposal in April.