Standard Chartered is moving to buy out the crypto custody business it helped create, acquiring the customer-facing operations of Zodia Custody and folding them directly into the bank’s own digital-asset division.

The London-headquartered banking giant co-founded Zodia Custody in 2020 alongside Northern Trust. Now it wants the whole thing, or at least the parts that matter most to institutional clients.

What the deal looks like

Standard Chartered plans to absorb Zodia Custody’s client-facing custody activities into its Corporate and Investment Banking division.

The bank is reportedly considering a buyout of minority shareholders in Zodia, including SBI Holdings and Northern Trust. That would give Standard…