Standard Chartered steps up digital asset custody offering in Singapore
Summary
Standard Chartered has enhanced its digital asset custody services in Singapore by partnering with Anchorage Digital Singapore, allowing for institutional USD accounts and SWIFT transfers integrated with digital asset custody, trading, and settlement on a unified platform. This development aligns with Singapore's regulatory framework, which governs digital asset custody under the Payment Services Act and Securities and Futures Act, thereby supporting licensed banks in delivering institutional-grade services.
Analysis
Standard Chartered: Standard Chartered is a leading international bank with a strong focus on Asia, Africa, and the Middle East, offering commercial, institutional, and digital asset financial services. The bank has been expanding its regulated digital asset custody capabilities, including through partnerships and platform enhancements in key markets like Singapore. This development directly supports its latest steps to integrate custody with fiat banking rails for institutional clients in the region. Partnership Expansion: Standard Chartered partnered with Anchorage Digital Singapore to offer institutional USD accounts and SWIFT transfers integrated with digital asset custody, trading, and settlement on a single platform. Regulatory Environment: Singapore regulates digital asset custody activities under the Payment Services Act and Securities and Futures Act, supporting institutional-grade offerings by licensed banks.
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Related sources
- https://x.com/i/status/2103400865100865827
- https://www.businesstimes.com.sg/international/global/how-digital-asset-custody-next-backbone-digital-finance
- https://ibsintelligence.com/ibsi-news/standard-chartered-expands-digital-asset-partnership-with-lmax-group/
- https://arqam.news/596333/
- https://x.com/i/status/2102623997745611131
- https://www.businesstimes.com.sg/singapore/bt50/laying-foundations-new-world-money
- https://suit-up.info/institutions/standard-chartered/
- https://x.com/i/status/2100137252294660230
- https://www.sc.com/en/press-release/standard-chartered-and-lmax-group-expand-partnership-to-include-digital-asset-custody-in-luxembourg-and-difc/
- https://x.com/i/status/2100173632844579118
- https://x.com/i/status/2104467644489625802
- https://institutionalassetmanager.co.uk/standard-chartered-and-lmax-group-expand-partnership/
- https://fintechnews.sg/138611/digitalassets/anchorage-digital-singapore-stanchart-usd/
- https://www.tipranks.com/news/the-fly/standard-chartered-says-non-binding-offer-for-zodia-accepted-by-shareholders-thefly-news
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