Standard Chartered Plans Digital Asset Custody for Institutions in Singapore

Standard Chartered has announced plans to roll out digital asset custody in Singapore for institutional clients. The London-headquartered bank intends to hold select cryptocurrencies, stablecoins and tokenized real-world assets. Corporate clients that qualify as accredited investors will also be eligible, subject to applicable regulatory requirements, the bank said in a press release on Thursday. It has not yet said which cryptocurrencies the service will support. The bank described Singapore as a leading financial and innovation hub and a key piece of its global strategy.

Zodia Custody Deal Strengthens the Custody Business

The Singapore plan builds on a custody push that began earlier this year. In May, Standard Chartered said it would consolidate its custody operations by acquiring the custody business of Zodia Custody and spinning out Zodia Solutions, after shareholders accepted its offer.

Standard Chartered Crypto Trading and Payments in the UAE

The bank is also active in the United Arab Emirates, where its services cover institutional crypto trading and fiat payment infrastructure. Last month it launched spot Bitcoin and Ether trading there. In June, it signed a banking agreement with CoinMENA, which supports the exchange’s fiat on- and off-ramps, client money accounts and virtual account-based transaction management.