Standard Chartered PLC is reportedly seeking to fully acquire Zodia Custody Ltd. to merge it with one of its digital asset divisions, sources close to the matter told Bloomberg on Wednesday.

The ‘restructuring’ plan, which could come as soon as this month, contemplates merging Zodia’s crypto custody business into one of the investment bank’s divisions that provides similar services, the sources told Bloomberg.

The sources also said Standard Chartered is considering allowing Zodia Custody to continue operating as a separate software-as-a-service (SAAS) business for cryptocurrency custody.

The people close to the negotiations, according to Bloomberg, did not clarify whether Standard Chartered has approached Zodia Custody’s minority…