Standard Chartered plans to introduce custody services for selected cryptoassets, stablecoins and tokenised real-world assets, subject to applicable regulatory requirements.
Aimed at institutional clients and accredited investor corporate clients, the proposed service will integrate digital asset custody with the bank’s traditional asset servicing capabilities.
Standard Chartered already has digital asset custody operations in the UAE, Luxembourg and Hong Kong. It has also backed institutional digital asset custodian Zodia Custody.
In Singapore, the planned service will complement the bank’s Financing & Securities Services business. It will bring together traditional asset servicing, tokenisation and digital asset custody.
This will allow Standard Chartered to support clients across a wider range of asset lifecycles. Services will range from safeguarding traditional assets to providing custody for tokenised assets within an institutional-grade framework.
“Singapore is an important centre for financial innovation, with a strong institutional ecosystem and growing demand for trusted digital asset solutions,”
said Patrick Lee, CEO, Singapore and CEO, ASEAN & South Asia at Standard Chartered.
Lee added that robust infrastructure would be critical to supporting the secure movement, safekeeping and servicing of tokenised assets at an institutional scale.
“Secure and regulated custody is a critical foundation of the digital asset ecosystem,”
said Ole Matthiessen, Global Head, Transaction Services & Digital Assets at Standard Chartered.
He added that the bank would continue investing in digital asset capabilities across key financial centres as client demand grows.
Featured image credit: Edited by Fintech News Singapore, based on image by ImageFlow via Magnific
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