Standard Chartered adds stablecoins and tokenized asset custody in Singapore

Standard Chartered announced it will offer custody services for selected stablecoins and tokenized real-world assets to its institutional and accredited corporate clients in Singapore. The move marks an expansion of the bank’s digital asset capabilities in one of Asia’s key financial centers, building on its existing crypto asset operations in several other jurisdictions.

Custody for institutional clients only

The custody service, including both traditional and tokenized assets, will be integrated into Standard Chartered’s Financing & Securities Services business in Singapore. This service will not be available to retail investors, as it targets only institutional and accredited corporate clients who meet regulatory requirements in the country.

While the bank did not specify which stablecoins or tokenized assets it will hold, it indicated the solution would allow clients to switch seamlessly between conventional securities and their tokenized equivalents. No exact start date has been given for the rollout of these new custody offerings.

Ying Ying Tan, global head of the digital assets and securities services division, stated that demand from institutional investors is growing, particularly for tokenized funds, exchange-traded funds (ETFs), and precious metals. These clients are seeking more efficient ways to store, transfer, and mobilize their assets using digital solutions.

Institutions are increasingly looking at tokenized funds, ETFs and precious metals for more flexible, efficient asset management, according to Ying Ying Tan, who oversees digital asset and securities services globally at Standard Chartered.

Patrick Lee, CEO of Standard Chartered Singapore as well as for ASEAN and South Asia, emphasized Singapore’s reputation as a hub for financial innovation and highlighted the institutional ecosystem that is driving greater demand for trusted digital asset services.

Lee noted that robust technology infrastructure is crucial in facilitating secure, scalable safekeeping and movement of tokenized assets for institutional clients.

Global expansion and existing partnerships

With this expansion, Singapore joins the United Arab Emirates (UAE), Hong Kong, and Luxembourg as markets where Standard Chartered offers digital asset custody. The bank, a major international financial institution headquartered in London, positions itself as a key provider of regulated digital asset services to major institutional players worldwide.

Ole Matthiessen, global head of transaction services and digital assets, described secure, regulated custody as a foundational requirement for the digital asset ecosystem and referenced Standard Chartered’s systemically important status as a major safety factor for clients.

Robust, regulated custody sits at the core of institutional adoption of digital assets, and Standard Chartered’s commitment is signaled by its continued investment in this field, said Ole Matthiessen.

Standard Chartered’s crypto custody business was originally developed through Zodia Custody, a joint venture with Northern Trust. In May, the bank agreed to acquire the remaining ownership in Zodia Custody, although the finalization of the deal is pending regulatory approval.

As of July 2025, Standard Chartered’s UK branch has been executing spot bitcoin and ether transactions for institutions. Its Dubai office launched similar services recently, allowing digital asset trading through its foreign exchange platform.

In Singapore, Standard Chartered works with Coinbase, enabling real-time settlement of Singapore dollar transactions for Coinbase customers. The partnership covers trading, custody, staking, and lending, and it allows institutional clients to settle crypto trades with any custodian, including Standard Chartered itself.

Mini dictionary: Zodia Custody is an institutional digital asset custody platform originally developed as a joint venture between Standard Chartered and Northern Trust, providing infrastructure for secure storage and settlement of cryptocurrencies and tokenized assets.