Standard Chartered Bank Singapore announced on October 8th that it is entering the institutional crypto custody market. The bank will offer secure digital asset holding and safeguarding services for institutional clients and accredited investor corporate clients.
The new service will cover select cryptocurrencies, stablecoins, and tokenized real-world assets, operating under Singapore’s regulatory requirements. This offering allows institutions to utilize a regulated global bank for digital asset storage instead of relying exclusively on crypto-native exchanges or specialist custodians, potentially increasing comfort for investors entering the market through established banking controls and security procedures.
Standard Chartered already provides digital asset custody capabilities in other jurisdictions, including the UAE, Luxembourg, and Hong Kong, with the Singapore expansion further strengthening its global network.
Executive Perspectives
Patrick Lee, CEO for Standard Chartered Singapore, ASEAN & South Asia, highlighted the region's position, stating that Singapore is an important center for financial innovation with a strong institutional ecosystem and growing demand for trusted digital asset solutions.
Ole Matthiessen, Global Head of Transaction Services & Digital Assets at the bank, added that as client demand grows, the institution will continue investing in digital assets capabilities across key financial centers to connect clients to opportunities through a secure, integrated, and globally connected platform.
This development coincides with the bank's broader strategy, which includes expanding its stablecoin strategy by becoming an authorized distributor of HKDAP, a Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial.
