- Standard Chartered plans crypto custody in Singapore for institutional clients.
- The service will cover selected cryptocurrencies, stablecoins, and tokenized assets.
- The bank already operates digital asset custody in the UAE, Luxembourg, and Hong Kong.
Standard Chartered plans to introduce cryptocurrency custody services in Singapore, extending its institutional banking operations into digital asset safekeeping. The bank announced the move on October 8, targeting institutional investors and accredited investor corporate clients, subject to applicable regulatory requirements.
Its planned offering covers selected cryptocurrencies, stablecoins, and tokenized real-world assets, which represent assets through digital tokens. Rather than providing another trading venue, the service will connect digital asset custody with the bank’s existing financing and securities operations.
Institutional custody involves protecting assets and the cryptographic keys used to control them. It also includes authorizing transactions, segregating assets, and keeping records. However, the bank has not specified a launch date, supported tokens, custody fees, or the regulatory approvals applicable to the service.
Standard Chartered Strengthens Crypto Custody With Singapore Move
The proposed Singapore service follows custody operations in the United Arab Emirates, Luxembourg, and Hong Kong. In May 2026, the bank said Zodia Custody’s shareholders and noteholders had accepted its nonbinding acquisition offer.
Under the proposal, Zodia’s regulated custody business would become part of the bank’s Financing and Securities Services division. The transaction remains subject to regulatory approvals and customary closing conditions, so its completion has not been confirmed.
Another step followed on September 16, when the bank announced an agreement to provide digital asset custody for LMAX Group in Luxembourg and Dubai. LMAX became the first client onboarded onto the Luxembourg platform after the bank secured authorization under Europe’s Markets in Crypto-Assets Regulation in June 2026.
Singapore’s Crypto Rules Set Requirements for Custody Launch
In Singapore, the Monetary Authority of Singapore regulates relevant digital payment token activities under applicable licensing and compliance rules. These rules require providers to safeguard customer assets, maintain operational security, and keep records.
However, the bank has not identified which authorizations will govern its planned service, leaving the precise regulatory arrangements undisclosed. Patrick Lee, its chief executive for Singapore, ASEAN, and South Asia, identified rising demand for secure infrastructure serving institutional digital asset customers.
Ole Matthiessen, the bank’s global head of transaction services and digital assets, also highlighted regulated custody’s importance for institutional participation. The expansion would give eligible clients another location to hold digital assets alongside established banking services.
Related: Sberbank Plans Crypto Trading Infrastructure Launch This Year
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