TLDR
- Standard Chartered plans to launch institutional crypto custody services in Singapore by the end of 2026.
- The proposed service will support selected cryptocurrencies, stablecoins, and tokenized real-world assets.
- Standard Chartered aims to expand its crypto custody network beyond Hong Kong, Luxembourg, and the UAE.
- The bank plans to integrate digital asset custody with its existing financing and securities services in Singapore.
- Standard Chartered continues restructuring its custody operations through Zodia Custody, while its Singapore launch remains subject to regulatory requirements.
Standard Chartered aims to launch crypto custody services for institutional clients in Singapore by the end of 2026. The bank announced the proposed service on Thursday, October 8, covering selected cryptocurrencies, stablecoins, and tokenized real-world assets.
The offer will also serve corporate clients who qualify as accredited investors. Its launch remains subject to local regulatory requirements.
Standard Chartered Sets Year-End Target
Ying Ying Tan, the bank’s global head of digital assets, said the company aims to start the service before 2027. The bank has not named the cryptocurrencies it intends to support.
Standard Chartered already offers digital asset custody in the United Arab Emirates, Luxembourg and Hong Kong. The Singapore plan would add another location to that network.
The proposed service will operate alongside the bank’s existing financing and securities services in Singapore. Clients could use its banking services while keeping selected digital assets under custody.
Custody providers hold and manage assets on behalf of clients. Separately, Ondo Finance launched tokenized notes on October 6, offering eligible investors exposure to private companies without granting share ownership.
Patrick Lee, the bank’s chief executive for Singapore, ASEAN and South Asia, pointed to growing institutional demand for digital asset services. He also cited Singapore’s established financial sector.
Zodia Custody Restructuring Continues
Standard Chartered is also working to bring more custody operations into its banking business. In May, Zodia Custody’s shareholders accepted the bank’s nonbinding acquisition offer, subject to required approvals.
The move comes as blockchain developers build tools for institutional transactions. On October 6, the Solana Foundation introduced a settlement program designed to process asset transfers and payments together.
Standard Chartered helped establish Zodia Custody with Northern Trust in 2020. Zodia entered Singapore in 2023 and later expanded into Hong Kong. It received a Luxembourg payments license in June. Under that plan, Zodia Solutions would remain a separate company.
Banks and crypto companies are also pursuing new licenses and partnerships. On October 7, Rain sought a US trust bank charter to handle stablecoin reserves, custody and related services.
Standard Chartered has not published a full list of supported assets or a firm launch date. The bank said its Singapore plans depend on regulatory conditions.
