Standard Chartered (HKG:2888) said its non-binding offer to acquire Zodia Custody was accepted by the shareholders and noteholders of the digital asset custodian, according to a statement Monday.

The proposal involves moving Zodia's crypto custody activities into the bank's corporate and investment banking unit, where similar services are already offered.

Meanwhile, Zodia will separate its institutional digital asset infrastructure platform business to an independent entity called Zodia Solutions that will operate under SC Ventures.

StanChart's shares rose 1% in recent trade.