Major Bank to Buy Crypto Company: Why Every Bank Will Need Digital Money Soon

A major international bank is making a big move into the world of digital money — and experts say this is just the beginning.

Standard Chartered, a global bank, is buying Zodia Custody, a company that helps businesses safely store cryptocurrencies (digital money like Bitcoin). The deal should be complete by August 2026.

Julian Sawyer, who runs Zodia Custody, made a bold prediction: "Every single bank is going to need to know how to hold digital assets."

Here's why this matters: • Banks are realizing they can't build crypto technology themselves — it's too complex • Instead of trying to create their own systems, banks are buying companies that already have the technology • This isn't just about Bitcoin anymore — banks want to use this technology for stablecoins (digital versions of regular money) and tokenization (turning real things like stocks or property into digital tokens)

What's driving this change? Banks see that blockchain technology (the system that powers Bitcoin) can be used for much more than just cryptocurrency. They want to use it for:

• Faster international payments
• Digital versions of traditional money
• Making it easier to buy and sell assets

Sawyer believes this acquisition proves that cryptocurrency is growing up and becoming part of the traditional banking system. As more banks follow Standard Chartered's lead, we could see digital money become as common as credit cards.

The message is clear: banks that ignore digital assets risk being left behind as finance goes digital.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/business/2026/06/03/standard-chartered-buyout-of-zodia-custody-is-great-news-for-crypto-tech-adoption-ceo-says