Key facts
- Standard Chartered Bank (Singapore) plans to offer digital asset custody services.
- The service will cover selected cryptoassets, stablecoins, and tokenized real-world assets.
- The offering is subject to regulatory requirements and has no stated go-live date.
- Singapore will join the UAE, Luxembourg, and Hong Kong as hubs for the bank's digital asset custody operations.
- Standard Chartered already offers regulated digital asset custody in Europe under MiCA.
Standard Chartered Bank (Singapore) announced on October 8 its intention to provide digital asset custody services to institutional clients and accredited-investor corporates in Singapore. The planned service will encompass selected cryptoassets, stablecoins, and tokenized real-world assets, contingent upon meeting regulatory requirements. A specific launch date has not yet been disclosed.
This new offering will be part of Standard Chartered’s Financing and Securities Services division, expanding its digital asset custody capabilities to Singapore, adding to existing hubs in the UAE, Luxembourg, and Hong Kong. Patrick Lee, the bank’s Singapore and ASEAN CEO, emphasized the critical need for robust infrastructure to handle tokenized assets at an institutional scale. Ole Matthiessen, global head of transaction banking and digital assets, highlighted that regulated custody is a service a global systemically important bank can credibly provide.