Standard Chartered is set to acquire the crypto asset custody business of Zodia Custody, a subsidiary in which it holds a majority stake. The non-binding offer has been accepted by Zodia Custody's other shareholders and note holders. This acquisition will enable Standard Chartered to expand its crypto custody services into new markets, including the UK and Australia, according to Margaret Harwood-Jones, Global Head of Financing and Securities Services at the bank. Post-acquisition, Zodia Custody's infrastructure business will operate independently as Zodia Solutions, a software-as-a-service company. Julian Sawyer will continue as CEO, with Standard Chartered's venture investment arm maintaining a majority stake. Current shareholders such as Northern Trust, Emirates NBD, National Australia Bank, and SBI Holdings are still negotiating their equity positions in the new entity.