Standard Chartered Expands Crypto Custody Services to Singapore
- Standard Chartered will offer custody for selected stablecoins, cryptocurrencies, and tokenized real-world assets in Singapore.
- The service targets institutional clients and accredited investor corporate clients, aligning with regulatory requirements.
- This expansion is part of Standard Chartered’s digital asset business, which already operates in financial hubs like the UAE, Luxembourg, and Hong Kong.
- Ole Matthiessen, the bank’s global head of transaction services and digital assets, emphasized the importance of secure custody in the digital asset ecosystem.
- Standard Chartered’s move follows similar expansions by other banks, such as BNY’s addition of USDC custody and minting services.
The introduction of custody services for tokenized assets and stablecoins in Singapore highlights the growing demand for regulated digital asset solutions among institutional investors. This aligns with Standard Chartered’s strategy to enhance its capabilities across key financial centers.
With this new offering targeting institutional clients, Standard Chartered aims to strengthen its presence in one of Asia’s leading wealth-management centers while addressing client needs for secure digital asset custody services.(Source)
