Standard Chartered launches digital asset custody services in Singapore for institutional clients, integrating cryptoassets into its regulated banking infrastructure. The bank plans to expand these services to the UAE, Luxembourg, and Hong Kong by mid-2026. Backed by its acquisition of Zodia Custody and a partnership with Anchorage Digital Singapore, the move highlights growing institutional adoption of digital assets under strict regulatory frameworks like Singapore's Payment Services Act.
Standard Chartered's digital asset custody in Singapore
- ▪Standard Chartered announced that it is launching digital asset custody services for selected cryptoassets for its institutional clients in Singapore
- ▪Standard Chartered's digital asset custody product in Singapore keeps client assets segregated and offers statutory protections mirroring those available for traditional assets
Partnership with Anchorage Digital Singapore
- ▪The partnership between Standard Chartered and Anchorage Digital Singapore builds on digital asset functionality, including institutional USD accounts and SWIFT transfer capabilities, that already exists in the United States
- ▪In October 2026, Standard Chartered partnered with Anchorage Digital Singapore to add institutional USD accounts and SWIFT transfer capabilities for digital assets
Acquisition of Zodia Custody
- ▪Under Standard Chartered's acquisition plan announced in May 2026, Zodia Custody's operations will be merged into Standard Chartered's Financing and Securities Services division
- ▪In May 2026, Standard Chartered announced a contingent agreement to acquire the regulated custody business of Zodia Custody, which is supported by Standard Chartered's venture arm, SC Ventures
Debatable claims
- ▪Traditional bank entry into digital asset custody undermines the decentralized ethos of cryptocurrency
- ▪Traditional banking frameworks are sufficient to protect digital asset investors
- ▪Institutional adoption is necessary for the long-term viability of cryptocurrency
- ▪Traditional banks should offer custody services for cryptocurrencies
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