Standard Chartered Plans Digital Asset Custody Services in Singapore

Standard Chartered has announced plans to provide digital asset custody services for institutional clients in Singapore, according to the British multinational.

The bank stated on Thursday that institutional and corporate clients are increasingly seeking secure, regulated, bank-grade custody for digital assets. The service is already available in the UAE, Luxembourg, and Hong Kong.

Patrick Lee, CEO of Singapore and CEO of ASEAN & South Asia at Standard Chartered, said: "Singapore is an important centre for financial innovation, with a strong institutional ecosystem and growing demand for trusted digital asset solutions."

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"Robust infrastructure will be critical to supporting the secure movement, safekeeping, and servicing of tokenised assets at an institutional scale."

Financial institutions globally are integrating or providing bitcoin-related products and services. Several U.S. and European banks have started offering crypto services through asset custody for institutions.

Standard Chartered noted that the custody service will apply to "selected cryptoassets, stablecoins and tokenized real-world assets."

Tokenization is a major focus on Wall Street, with many traditional finance firms partnering with crypto companies, primarily to put stocks on the blockchain for round-the-clock trading. Other asset types are also being explored or introduced.

Standard Chartered established a trading desk for bitcoin and other cryptocurrencies in London in 2025, becoming one of the first global banks to engage in spot crypto trading.

The crypto desk was integrated into the forex trading operation. That same year, the bank launched Libeara, a blockchain unit aimed at helping institutions tokenize traditional assets.

In the UAE, Standard Chartered recently launched bitcoin trading for institutional clients.

Crypto custody frequently serves as an entry point for banks entering the digital asset sector. In 2022, BNY Mellon became the first major U.S. bank to provide digital asset custody.

Last month, Deutsche Bank of Germany announced plans to introduce a custody service for bitcoin, ether and certain stablecoins for European corporate and institutional clients later in 2026, subject to regulatory approval.