FinanceShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailAll banks will soon need digital assets, according to Zodia CEO Julian Sawyer
Confirmation of Standard Chartered’s full acquisition of Zodia is expected to be signed by the end of June and finalized by the end of August.
By Olivier Acuna|Edited by Jamie Crawley Jun 3, 2026, 3:08 p.m. 3 min readMake preferred on Julian Sawyer, CEO of Zodia Custody, views the acquisition by a traditional finance entity as a significant advancement for the crypto sector. Zodia Custody CEO Julian Sawyer (Olivier Acuna/CoinDesk)Key Points:
- Standard Chartered is expected to fully acquire Zodia Custody by the end of August, integrating its digital custody services into the bank and effectively phasing out the Zodia Custody brand.
- This acquisition highlights a trend where major financial institutions are opting to purchase established crypto firms rather than developing in-house solutions, seeking reliable technology for digital asset custody, tokenization, and stablecoin transactions.
- As banks globally delve deeper into digital assets, there is a notable alignment of regulations across different regions, with significant advancements observed in Asia and the Middle East, as the broader crypto landscape begins to conform to traditional banking regulations such as KYC and AML.
Julian Sawyer, CEO of Zodia Custody, described the ongoing acquisition by Standard Chartered as a "major validation" that emphasizes a significant shift in conventional finance: established banks are unable to create institutional-quality digital asset custody systems efficiently without the right technology.
Instead of isolating crypto as a separate industry, Sawyer pointed out that the sector is reaching a level of maturity where blockchain technology is being applied to real-world asset tokenization and stablecoin payments.
"This is the maturation phase where blockchain custody transitions from purely crypto assets to other forms, including stablecoins and tokenized assets," he stated in an interview with CoinDesk. "Trust is essential for these financial applications, and that is what banks provide." Given the need for trust in these use cases, leading banks are acquiring established platforms to swiftly scale and secure robust technology.
He observed a significant increase in interest from clients regarding their infrastructure solutions. "Every bank will need to understand how to manage digital assets," Sawyer remarked.
"The major players are actively exploring options, and all others considering stablecoins and tokenization must find solutions. The market potential is vast."
Details on Standard Chartered's Acquisition
Sawyer confirmed that the full acquisition by Standard Chartered is on track for a signing at the end of June and completion by the end of August.
He did not disclose the financial details of the deal. In 2023, Zodia raised $36 million in a funding round led by SBI Holdings. Market estimates suggest the custodian's annual revenue is approximately $34.6 million, with total funding around $46 million.
According to the acquisition agreement, Standard Chartered's existing digital custody operations in Dubai, Luxembourg, and Hong Kong will merge with Zodia Custody, ultimately consolidating under the Standard Chartered brand, which means Zodia Custody will cease to exist in the near future.
Additionally, a new entity named Zodia Solutions will continue the software and infrastructure aspects of the business, supported by existing bank shareholders such as Northern Trust, Emirates NBD, and National Australia Bank.
"This represents a significant endorsement," Sawyer expressed, explaining the systemic implications of this consolidation. "Every bank globally will engage with digital assets...they will need to acquire the technology necessary to manage those assets."
Regulatory Landscape
The integration of institutions is prompting a worldwide regulatory alignment. When asked if the U.K. is lagging in its ambition to become a crypto hub due to internal conflicts among the Bank of England, the Treasury, and the Financial Conduct Authority (FCA), Sawyer acknowledged the changing dynamics.
"I remember when the FCA was ahead of the curve and attracted many to the UK," Sawyer reflected. "One interesting aspect of our industry is that each region moves at its own pace."
He pointed out the "substantial advancements" in regulations across Asia and Singapore, along with new frameworks in Hong Kong and Abu Dhabi. "The message is that this ecosystem is rapidly evolving, and both regulators and industry participants must adapt continuously."
While some industry players express concern that large Wall Street firms will dominate the sector, Sawyer believes the crypto industry is naturally gravitating towards traditional banking due to compliance requirements like KYC and AML.
"The movement of the crypto sector toward banking is driven by regulatory requirements," Sawyer asserted.
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