Standard Chartered to Offer Digital Asset Custody in Singapore
Standard Chartered will launch digital asset custody services in Singapore for institutional clients, covering crypto, stablecoins, and tokenised assets. This expands its existing digital asset operations in Asia and the Middle East.
Standard Chartered Expands Digital Asset Custody to Singapore
Standard Chartered announced its plan to launch digital asset custody services in Singapore, targeting institutional clients and accredited corporate investors. This new offering will provide secure safekeeping for selected cryptoassets, stablecoins, and tokenised real-world assets.
The service aims to integrate digital asset custody seamlessly with the bank’s established traditional asset servicing capabilities, enabling comprehensive support for clients across a broader spectrum of asset lifecycles within an institutional-grade framework.
Building on Existing Global Digital Asset Footprint
The introduction of these services in Singapore extends Standard Chartered's existing digital asset custody operations, which already include centres in the United Arab Emirates, Luxembourg, and Hong Kong. The bank has also previously demonstrated its commitment to the digital asset space by backing Zodia Custody, another institutional digital asset custodian.
This strategic expansion in Singapore is designed to complement Standard Chartered’s current Financing & Securities Services business in the city.
Driving Institutional Adoption in a Key Financial Centre
Patrick Lee, Standard Chartered’s CEO for Singapore and ASEAN & South Asia, highlighted Singapore's role as a vital hub for financial innovation. Lee noted the strong institutional ecosystem and the increasing demand for reliable digital asset solutions within the city-state.
He further emphasised that robust infrastructure is crucial for supporting the secure movement, safekeeping, and servicing of tokenised assets at an institutional scale, aligning with the bank’s expansion strategy.
Ole Matthiessen, Global Head of Transaction Services & Digital Assets at Standard Chartered, underscored that secure and regulated custody forms a critical foundation for the evolving digital asset ecosystem. He confirmed the bank’s ongoing commitment to investing in digital asset capabilities across key financial centres as client demand continues to grow.
This move by Standard Chartered may accelerate institutional adoption of digital assets in Singapore and across Asia, potentially drawing more capital into the region's burgeoning tokenisation market.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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