Standard Chartered (HKG:2888) is considering plans to fold parts of its majority-owned Zodia Custody into its digital-assets business, Bloomberg News reported Wednesday, citing people familiar with the matter.
The proposal involves moving Zodia's crypto custody activities into the bank's corporate and investment banking unit, where similar services are already offered, the report said.
Zodia Custody would reportedly continue to run as a standalone software-as-a-service platform for digital asset custody under the potential restructuring.
The announcement could come as early as this month, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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