Standard Chartered (STAN) plans to offer custody in Singapore for selected cryptocurrencies, stablecoins and tokenized real-world assets, expanding a digital asset business that already reaches financial hubs including the United Arab Emirates (UAE), Luxembourg and Hong Kong.
The service, which remains subject to applicable regulatory requirements, would be available to institutional clients and accredited investor corporate clients, the bank said Thursday. It would sit within Standard Chartered’s financing and securities-services business rather than operate as a retail crypto product.
“As adoption grows, we are seeing institutional use cases and client interest emerge around tokenised funds, ETFs and precious metals, as clients look for more efficient ways to hold, transfer and mobilise assets,” Ying Ying Tan, global head of digital assets and securities services at Standard Chartered told CoinDesk via email.
“Our Singapore launch further strengthens our ability to help clients bridge traditional and digital markets through secure, regulated and bank-grade infrastructure,” she added.
The move is not a first for a global bank. BNY, for example, expanded its digital-asset custody platform to include USDC custody and minting, and later added staking.
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