Standard Chartered to Launch Digital Asset Custody Services in Singapore
- Standard Chartered plans to offer digital asset custody services for institutional clients in Singapore.
- The bank will support select cryptocurrencies, stablecoins, and tokenized real-world assets.
- This initiative is part of the bank’s strategy to enhance its presence in Singapore as a financial hub.
- In May, Standard Chartered announced the acquisition of Zodia Custody’s business to consolidate its custody operations.
- The bank recently launched spot trading for Bitcoin and Ether in the UAE.
Standard Chartered’s move into digital asset custody highlights its commitment to expanding services for accredited institutional clients while leveraging Singapore’s status as a key financial center. This follows recent developments where the bank enhanced its offerings in the UAE with cryptocurrency trading capabilities.
The planned custody service will broaden Standard Chartered’s offerings and reflects a growing interest in digital assets among institutional investors, particularly following its recent launch of trading services for Bitcoin and Ethereum.(Source)
