Standard Chartered Bank plans to launch a digital asset custody service in Singapore for institutional and accredited investor corporate clients, covering certain cryptocurrencies, stablecoins, as well as tokenized real-world assets.
- Standard Chartered plans to launch custody services for institutional clients in Singapore, targeting certain cryptocurrencies, stablecoins, and tokenized assets.
- The proposed service will operate within the existing framework of the company's financing and securities services business, but it must meet the applicable regulatory requirements.
- Standard Chartered currently provides digital asset custody services in the United Arab Emirates, Luxembourg, and Hong Kong, and supports institutional custodian Zodia Custody.
- The launch date for this service has not yet been confirmed, nor has it been disclosed which digital assets the planned services in Singapore will support.
According to Standard Chartered's announcement, the proposed service will operate in parallel with its existing financing and securities services business, enabling customers to manage both traditional assets and tokenized assets through its banking infrastructure.
This service still needs to meet the applicable regulatory requirements. Standard Chartered has not yet announced a launch date, nor has it specified which digital assets it intends to support.
Currently, this service provides digital asset custody in the United Arab Emirates, Luxembourg, and Hong Kong, and the new initiative in Singapore is part of its ongoing investment in institutional digital asset infrastructure.
Standard Chartered plans to combine crypto custody with securities services
According to the proposed arrangement, Standard Chartered plans to incorporate digital asset custody into its existing asset services business in Singapore.
In addition to traditional financial asset custody services, institutional clients will also be able to obtain custody arrangements for cryptocurrencies and tokenized assets.
This line indicates that its existing financing and securities services business will provide the operational foundation for this new service.
It is expected that the relevant services will cover different stages of the asset lifecycle, including the custody and subsequent services after the assets are tokenized.
Tokenizing real-world assets refers to representing traditional financial assets in digital form on a blockchain network. The management of such assets may involve not only the custody of digital tokens but also the maintenance of records and service arrangements related to the underlying assets.
Standard Chartered has not yet disclosed which tokenization tools will be included in the scope of its services in Singapore, nor has it stated whether these services will include settlement and transfer functions in addition to custody.
Chase Singapore's CEO and CEO for ASEAN and South Asia, Patrick Lee, stated that Singapore is an important center for financial innovation, and the demand from institutions for digital asset services is growing.
Lee said, "Singapore is an important center for financial innovation, with a strong institutional ecosystem, and the demand for reliable digital asset solutions is also constantly growing."
He added that as institutional activities develop, there is a need for reliable infrastructure to handle the transfer, custody, and services of tokenized assets.
The announcement mentioned that the services under this plan will be targeted at institutional clients and recognized investor corporate clients, with no mention of retail business.
Acquisition of Zodia Custody to support the operation of digital asset business in this line
Standard Chartered's latest initiative in Singapore follows its efforts to integrate professional crypto custody services into its existing banking business model.
In May 2026, after the shareholders and note holders of Zodia Custody accepted a non-binding offer, Standard Chartered agreed to acquire the company's regulated custodian business.
According to previous reports from crypto.news, this proposed transaction will integrate the regulated custody business of Zodia into Standard Chartered's financing and securities services department.
The agreement also includes plans to establish an independent platform, Zodia Solutions, under SC Ventures, to provide digital asset infrastructure for banks and other financial institutions.
At the time of announcement, this transaction is still subject to regulatory approval and must meet the usual delivery conditions.
In 2020, Standard Chartered and Northern Trust jointly helped to establish Zodia Custody. Other investors in this business also include SBI Holdings, Emirates NBD, and National Australia Bank.
In June 2026, Zodia Custody obtained a payment institution license issued by the Luxembourg Financial Services Commission.
This authorization complements its existing license under the 'Regulations on the Supervision of Crypto Asset Markets' and enables the company to provide regulated custody and transfer services for stablecoins within the European Union.
Zodia indicates that this combination of licenses will help institutional clients manage digital currency tokens and other crypto assets within a regulated framework.
At that time, the company stated that separating the hosting and transfer service providers could lead to operational complexity and counterparty risk exposure for institutions.
Zodia holds regulatory licenses in multiple markets, including Singapore, Hong Kong, the United Arab Emirates, Australia, and the United Kingdom.
