Standard Chartered is evaluating a restructuring plan that could merge parts of its crypto custody unit, Zodia Custody, into its digital asset division. The move aims to streamline overlapping custody functions while maintaining Zodia as a standalone software platform for external institutions.

Launched in 2020 through a partnership with Northern Trust, Zodia Custody has attracted minority investors such as Emirates NBD and SBI Holdings. Its global footprint spans London, Singapore, and Hong Kong, with recent growth highlighted by a $4.2 billion institutional staking partnership with Galaxy Digital in Europe.

The bank's review underscores broader efforts to align custody services with its digital asset strategy. An announcement is expected pending internal approvals, though the role of minority investors remains unclear.