StanChart Targets Singapore Crypto Custody

Standard Chartered Bank (Singapore) has unveiled plans to provide custody services for selected cryptoassets, stablecoins and tokenised real-world assets to institutional clients and accredited investor corporate clients, in Singapore, subject to applicable regulatory requirements.

The bank says the move reflects its continued investment in digital asset capabilities, responding to growing demand from institutional and corporate clients for secure, regulated and bank-grade digital asset custody. It also builds on its presence in markets including the UAE, Luxembourg and Hong Kong.

In Singapore, the planned custody service will complement the bank’s broader Financing & Securities Services capabilities, bringing together traditional asset servicing, tokenisation and digital asset custody. This will enable it to expand its support of institutional clients across wider asset lifecycles – from safeguarding and servicing traditional assets today, to tokenising and safeguarding digital assets within an institutional-grade custody framework – through a connected global proposition.

“Singapore is an important centre for financial innovation, with a strong institutional ecosystem and growing demand for trusted digital asset solutions,” says Patrick Lee, CEO, Singapore and CEO, ASEAN & South Asia, Standard Chartered. “Robust infrastructure will be critical to supporting the secure movement, safekeeping, and servicing of tokenised assets at an institutional scale. This marks a significant milestone as we prepare to bring our digital asset custody capabilities to clients in Singapore. It also reinforces our commitment to supporting the development of a secure and well-regulated digital asset ecosystem in the market.”

Sharing a Group perspective, Ole Matthiessen, global head, transaction services & digital assets, Standard Chartered, adds, “Secure and regulated custody is a critical foundation of the digital asset ecosystem. As a GSIB we provide the trust, security and institutional safeguards needed to support broader market participation and adoption, and we are pleased to bring this capability to Singapore. As client demand continues to grow, we will continue investing in our digital assets capabilities across key financial centres, connecting clients to opportunities through a secure, integrated and globally connected platform.”