Standard Chartered announced plans to launch custody services for cryptocurrencies, stablecoins, and tokenized assets in Singapore, targeting institutional and corporate clients.
Standard Chartered Bank (Singapore), the Singapore subsidiary of international banking group Standard Chartered, announced plans to establish digital asset custody infrastructure in Singapore. The new service will be available to institutional and corporate clients that qualify as accredited investors. The launch will be subject to compliance with local regulatory requirements.
The bank plans to provide custody services for 3 categories of digital assets:
Selected cryptocurrencies;
Stablecoins;
Tokenized real-world assets (RWAs).
The bank hasn’t yet disclosed a launch date for its Singapore custody service, a list of supported assets, pricing details, or the planned investment in infrastructure.
The new service will be integrated into Standard Chartered’s existing Financing & Securities Services business, which combines financing and securities services. Through this integration, the bank aims to establish a unified infrastructure for traditional and digital financial instruments, covering tokenization, custody, and ongoing asset servicing.
Patrick Lee, CEO of Standard Chartered Singapore and Head of Coverage for ASEAN and South Asia, said developing custody infrastructure is essential for the secure transfer and servicing of tokenized assets at an institutional scale. He emphasized Singapore’s well-developed financial ecosystem and noted that demand for regulated digital asset solutions among professional market participants continues to grow.
Ole Matthiessen, Global Head of Transaction Services & Digital Assets at Standard Chartered, said reliable custody infrastructure is a key requirement for expanding institutional participation in the digital asset market. According to Matthiessen, Standard Chartered’s status as a global systemically important bank (G-SIB) enables it to provide the high level of reliability and client asset protection needed to attract institutional participants.
The Singapore custody business will become part of Standard Chartered’s global digital asset infrastructure. The group is currently developing related capabilities in the United Arab Emirates, Luxembourg, and Hong Kong. Expanding into the Singapore market will allow the bank to strengthen its position in one of Asia’s major financial centers.
