Standard Chartered is set to acquire the crypto asset custody business of its subsidiary, Zodia Custody, following acceptance of its non-binding offer by other shareholders and noteholders. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, stated that this acquisition will facilitate the bank's expansion into new markets such as the UK and Australia for crypto custody services. Post-acquisition, Zodia Custody's infrastructure business will operate independently as a software-as-a-service company under the new name Zodia Solutions, led by current CEO Julian Sawyer.