Standard Chartered plans institutional crypto custody in Singapore

Standard Chartered has revealed plans to roll out digital asset custody services in Singapore aimed at institutional investors and corporate entities that meet accredited investor criteria, according to a company press release. The service is intended to handle selected cryptocurrencies, stablecoins and tokenized real-world assets, though the bank did not specify which tokens it will support. The Singapore offering is described by the bank as part of its broader global strategy tied to the city-state's standing as a major financial and innovation centre. Any launch will proceed subject to applicable regulatory requirements in Singapore. The planned custody service adds to Standard Chartered's recent moves in the custody and crypto space. In May the bank announced an intention to consolidate its custody operations by acquiring Zodia Custody's custody business and spinning out Zodia Solutions after shareholders accepted its offer. The bank has also been active in other markets: in the UAE it launched spot Bitcoin and Ether trading last month, and in June it entered a banking agreement with exchange CoinMENA to support fiat on- and off-ramps, client money accounts and virtual account transaction management. Cointelegraph sought clarification from Standard Chartered on the specific cryptocurrencies that will be supported by the Singapore custody service but had not received a response at the time of reporting. The press release frames the move as part of the bank's wider digital-asset expansion while noting regulatory compliance requirements for clients and services.