Financeupdated 1h ago2 min read
Standard Chartered Plans Institutional Crypto, Stablecoin, And Tokenized Asset Custody In Singapore
Standard Chartered Singapore plans digital asset custody for selected cryptoassets, stablecoins, and tokenized real-world assets. Services available to institutional and accredited corporate clients, subject to regulatory approvals.
10 outlets told this the same way.
Custody Plan for Singapore
Standard Chartered Bank (Singapore) Limited announced 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. Standard Chartered said the service would be offered alongside its Financing & Securities Services capabilities rather than as a retail crypto product, and it would be safekeeping rather than trading. Standard Chartered did not disclose which cryptoassets it will support, and it did not state a go-live date or which regulatory approval it needs.
Patrick Lee, CEO Singapore and CEO ASEAN & South Asia, tied the plan to institutional demand, saying robust infrastructure would be critical for the secure movement, safekeeping, and servicing of tokenised assets at an institutional scale. Ole Matthiessen, the bank’s Global Head of Transaction Services & Digital Assets, framed secure and regulated custody as a critical foundation for the digital asset ecosystem.
Institutional Scope, No Asset List
Standard Chartered planned custody for select cryptocurrencies, stablecoins and tokenized real-world assets for institutional clients and corporate clients qualifying as accredited investors, subject to applicable regulatory requirements. Standard Chartered asked which cryptocurrencies its custody service will support but did not receive an immediate response. The announcement did not identify which crypto assets, stablecoins or tokenized products it expects to support, and it also did not say when the service will begin.
The bank’s custody product would cover cryptoassets, stablecoins and tokenised real-world assets without naming a single coin, token or issuer, and it described the assets as “selected” rather than everything on the market. no asset names, fee schedule, or regulatory clearance date has been disclosed, while calling the offering a plan rather than a launch.
Zodia Consolidation and Broader Strategy
Standard Chartered’s Singapore custody plan followed its May agreement to acquire the rest of Zodia Custody, with the bank describing the move as consolidating its custody operations under its own brand. Zodia’s shareholders and noteholders accepted the acquisition, and they described completion as subject to regulatory approvals and customary closing conditions. Standard Chartered planned to consolidate its custody operations by acquiring Zodia Custody’s custody business and spin out Zodia Solutions after shareholders accepted its offer.
Zodia Custody has been operating in Singapore since September 2023, and it described the bank’s step as extending custody in a market where its affiliate already had a footprint. Standard Chartered’s custody service would expand its institutional custody offering to Singapore, explicitly covering stablecoins and tokenized assets alongside crypto, and it placed the service within the bank’s financing and securities-services business.