Standard Chartered announced on Thursday plans to expand its digital asset operations to Singapore with a new cryptocurrency custody service targeting institutional clients and accredited corporate investors. The proposed service would safeguard selected cryptocurrencies, stablecoins, and tokenized real-world assets (RWAs) within the bank's Financing and Securities Services division, integrating digital holdings with conventional asset servicing.
The bank aims to launch the Singapore custody service before the end of 2026, subject to regulatory clearance. However, Standard Chartered has not yet disclosed which specific cryptocurrencies will be supported, nor has it finalized pricing, technical arrangements, or a firm launch date.
Expansion of Existing Operations
Standard Chartered already operates institutional digital asset infrastructure in the United Arab Emirates, Luxembourg, and Hong Kong. In July 2025, the bank launched deliverable spot trading for bitcoin and ether through its UK branch, serving institutional investors and corporate customers. In May 2026, Standard Chartered announced that shareholders and noteholders of Zodia Custody had accepted its acquisition proposal, subject to regulatory approvals and closing conditions.
Market Positioning
Patrick Lee, Standard Chartered's CEO for Singapore, ASEAN, and South Asia, stated that the city-state represents an important center for financial innovation with a strong institutional ecosystem and growing demand for trusted digital asset solutions. Ole Matthiessen, the bank's global head of transaction services and digital assets, emphasized that secure and regulated custody serves as critical infrastructure for institutional participation in digital assets.
As a globally systemically important bank, Standard Chartered positions its regulatory standing and institutional safeguards as key advantages for clients managing digital assets at scale.
