Standard Chartered to expand crypto custody services in Singapore
The bank said the service would extend its existing crypto custody footprint in the UAE, Luxembourg, and Hong Kong.
Standard Chartered has announced plans to expand its cryptocurrency custody services into Singapore, adding the city-state to its growing network of regulated digital asset storage operations. The move extends the bank's existing crypto custody footprint, which already covers the UAE, Luxembourg, and Hong Kong, according to a report from The Block.
The expansion reflects Standard Chartered's broader strategy to position itself as a institutional-grade custodian for digital assets across key global financial hubs. The bank has been steadily building its crypto infrastructure over recent years, partnering with various regulated entities and working within established compliance frameworks in each jurisdiction it operates. Singapore, home to the Monetary Authority of Singapore (MAS), is widely regarded as one of Asia's most developed regulatory environments for digital assets.
The addition of Singapore is significant for the institutional crypto market, where regulated custody remains one of the primary barriers to entry for large financial players. Demand for qualified custodians has grown alongside increasing interest from asset managers, hedge funds, and sovereign wealth funds seeking secure, compliant access to digital assets. Standard Chartered's multi-jurisdiction approach positions it to serve clients who require custody solutions that span multiple regulatory regimes.
Observers will be watching whether the bank moves to add further locations to its custody network, and how competitor institutions respond as the race to capture institutional digital asset business continues to intensify across global markets.
Source: The Block
