Standard Chartered plans to launch cryptocurrency custody services for institutional clients in Singapore by the end of 2026, according to an announcement issued by the bank on Thursday, October 8. The proposed offering is detailed in an official press release published by Standard Chartered.

The planned service would support selected cryptocurrencies, stablecoins, and tokenized real-world assets. It would also be open to corporate clients that qualify as accredited investors, a defined category under Singapore's securities rules based on income or asset thresholds. The launch remains subject to local regulatory requirements.

Year-End Target for Singapore

Ying Ying Tan, the bank's global head of digital assets, said Standard Chartered aims to have the service up and running before 2027, with the exact timing dependent on regulatory approvals. The bank has not disclosed which cryptocurrencies it intends to support.

The move would extend a custody network that already spans the United Arab Emirates, Luxembourg, and Hong Kong, adding Singapore as a fourth location where institutional clients can hold digital assets with the bank and giving the network coverage across the Middle East, Europe, and Asia.

The proposed service is designed to operate alongside Standard Chartered's existing financing and securities services in Singapore, placing digital asset custody within the bank's broader offering for institutional customers. Under this arrangement, clients could use the bank's banking services while keeping selected digital assets in custody. Custody providers hold and manage assets on behalf of clients. That distinction matters for institutions because many funds and corporate treasuries operate under mandates or compliance policies that require assets to sit with a qualified provider rather than be self-managed, making third-party custody a practical gateway to holding digital assets.

Patrick Lee, the bank's chief executive for Singapore, ASEAN and South Asia, pointed to growing institutional demand for digital asset services. He also cited Singapore's established financial sector as a supporting factor for the planned launch. That sector is overseen by the Monetary Authority of Singapore, the city-state's central bank and integrated financial regulator, which has in recent years promoted tokenization and digital asset development as part of its agenda.

Zodia Custody Restructuring Continues

Alongside the Singapore plan, Standard Chartered is working to bring more of its custody operations into its banking business. In May, shareholders of Zodia Custody accepted the bank's nonbinding acquisition offer, a transaction that remains subject to required approvals.

Standard Chartered helped establish Zodia Custody together with Northern Trust in 2020. Zodia entered Singapore in 2023 and later expanded into Hong Kong, and it received a Luxembourg payments license in June. Under the proposed acquisition plan, Zodia Solutions would remain a separate company.

The Singapore announcement comes amid a series of digital asset initiatives across the industry. On October 6, Ondo Finance launched tokenized notes that give eligible investors exposure to private companies without granting share ownership. The same day, the Solana Foundation introduced a settlement program designed to process asset transfers and payments together. On October 7, Rain sought a US trust bank charter that would allow it to handle stablecoin reserves, custody, and related services.

Standard Chartered has not published a full list of supported assets or a firm launch date. The bank said its Singapore plans depend on regulatory conditions.

This article is based on reporting by CoinCentral.