UK-based global banking institution Standard Chartered is set to acquire Zodia Custody, a move that positions the bank to expand its capabilities within the digital assets sector.
Zodia Custody specializes in providing digital asset custody services, a critical infrastructure component for institutional market participants looking to securely hold and manage cryptocurrency and other digital tokens. By bringing this entity into its fold, Standard Chartered adds dedicated digital asset storage and management expertise to its existing global banking infrastructure.
While the acquisition marks a development in the integration of traditional banking and digital finance, further details regarding the financial terms of the deal or the anticipated integration timeline were not provided in the initial announcement.
Source: Finextra
Original article: https://www.finextra.com/newsarticle/48627/standard-chartered-to-acquire-zodia-custody?utm_medium=rssfinextra&utm_source=finextrafeed
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