Standard Chartered Expands Digital Asset Custody Services in Singapore

Standard Chartered is advancing its digital asset custody services in Singapore, aiming to provide a regulated environment for both cryptocurrency and traditional assets. The bank's custody product will ensure that client assets are segregated and protected by statutory measures similar to those for conventional assets.

With a total of USD 2.2 trillion in assets under custody and over 160 years of institutional experience, Standard Chartered is positioning itself as a key player in the digital asset space. The bank plans to extend these services to other financial hubs, including the UAE, Luxembourg, and Hong Kong, by mid-2026.

The Zodia Custody Acquisition

In May 2026, Standard Chartered announced its intention to acquire Zodia Custody's regulated custody business, pending necessary approvals. Zodia, which began operations in Singapore in September 2023, is recognized as a pioneer in bank-backed digital asset custody in the region and is supported by SC Ventures, the bank's venture arm.

Partnership with Anchorage

Additionally, in October 2026, Standard Chartered formed a partnership with Anchorage Digital Singapore, enhancing its digital asset services by adding institutional USD accounts and SWIFT transfer capabilities for digital assets. This partnership aims to replicate existing functionalities available in the US market.

Regulatory Framework in Singapore

The Monetary Authority of Singapore (MAS) regulates custodians, imposing stringent licensing, asset segregation, risk management, and cybersecurity requirements. Licensed custodians must adhere to the Payment Services Act and the Securities and Futures Act, ensuring a robust regulatory framework for digital asset custody.