Standard Chartered Plans Crypto Custody in Singapore
Standard Chartered said on 8 October 2026 it will offer custody of crypto, stablecoins and tokenised assets to Singapore institutions, its fourth such hub.
Standard Chartered said on Thursday, 8 October 2026 that its Singapore bank plans to offer custody of selected cryptoassets, stablecoins and tokenised real-world assets to institutional clients and accredited-investor companies. The service is subject to regulatory requirements and the announcement gave no launch date, though the bank's global head of digital assets has said it aims to start by the end of 2026.
Key takeaways
- The service will be run by Standard Chartered Bank (Singapore) Limited inside its Financing and Securities Services business.
- Only institutions and corporate clients that qualify as accredited investors are eligible. It is not a retail product.
- Singapore would become the bank's fourth digital asset custody location, after the UAE, Luxembourg and Hong Kong.
- The bank has not said which coins or stablecoins it will hold.
- Nothing changes for investors in India, where exchanges registered with FIU-IND hold most users' coins and there is no RBI licence for crypto businesses.
What Standard Chartered announced
Standard Chartered's announcement, released on 8 October, the second day of the TOKEN2049 Singapore conference, describes custody as the link between traditional asset servicing, tokenisation and digital assets. Clients would be able to keep traditional securities and selected digital assets with the same bank, under one relationship.
Patrick Lee, the bank's chief executive for Singapore and for ASEAN and South Asia, called Singapore an important centre for financial innovation and said tokenised assets need strong infrastructure to be handled securely at institutional scale. Ole Matthiessen, global head of transaction services and digital assets, said regulated custody is a foundation of the digital asset market and pointed to the bank's status as a global systemically important bank as a source of trust.
The plan builds on earlier steps. Standard Chartered co-founded the custody firm Zodia Custody with Northern Trust in 2020, and Zodia has served institutions in Singapore since 2023. In May 2026, Zodia's shareholders accepted the bank's non-binding offer to bring its custody business inside the bank, subject to approvals. The 8 October release does not mention Zodia.
The numbers
Standard Chartered's Singapore custody plan, as announced on 8 October 2026, has these terms.
| Item | Detail |
|---|---|
| Announced | 8 October 2026 |
| Entity | Standard Chartered Bank (Singapore) Limited |
| Assets | Selected cryptoassets, stablecoins and tokenised real-world assets (not yet named) |
| Eligible clients | Institutions and accredited-investor corporate clients |
| Launch | No date in the release; target is the end of 2026 |
| Regulatory status | Subject to applicable requirements |
| Existing custody locations | UAE, Luxembourg, Hong Kong |
| Bank's footprint | 55 markets |
Why it matters for Indian investors
Bank custody matters to Indian investors because it shows where the safekeeping of crypto is heading, and how different it is from the setup most Indians use today. There are three broad ways to hold coins:
- Bank custody: a regulated bank holds the assets for large clients, as Standard Chartered plans in Singapore. Its planned service is not open to retail investors.
- Exchange custody: an Indian exchange keeps your coins in its own wallets. That is convenient, but you depend on its security. WazirX lost about $230 million in a hack in July 2024, and users waited until 24 October 2025 for trading to restart.
- Self-custody: you hold the keys in your own wallet. No company can freeze your coins, but losing the seed phrase means losing the coins.
Crypto is legal in India, and the practical steps are the same as before. Use a platform on the list of FIU-registered crypto exchanges; FIU-IND had 54 registered VDA service providers as of 9 March 2026. Read what happens to your crypto if an exchange shuts down, and compare hot and cold wallets for long-term holdings. If you hold your own keys, our guide on storing a seed phrase safely is the place to start.
India's own approach remains cautious. RBI Governor Sanjay Malhotra said on 3 October 2026 that the central bank stays wary of crypto because of risks to monetary sovereignty and capital flows, while it tests tokenised instruments and the digital rupee. Our tokenisation hub tracks those pilots. Tax is unchanged: crypto gains are taxed at 30% plus 4% cess, with 1% TDS on transfers and no set-off of losses. Bitcoin is at ₹79,46,910 on our Bitcoin price in INR page.
What to watch next
- Launch date: whether the Singapore service starts by the end of 2026, as the bank intends.
- Asset list: which coins and stablecoins the bank agrees to hold.
- Zodia: whether the deal to bring Zodia Custody's business inside the bank receives its approvals and closes.
- Other banks: whether more large banks offer custody in Asian financial centres.
FAQ
Can Indian investors use Standard Chartered's crypto custody?
No. The planned service is for institutional clients and accredited-investor corporate clients of Standard Chartered's Singapore bank. It is not a retail product and is not offered in India.
When will Standard Chartered launch crypto custody in Singapore?
No date has been announced. The bank aims to launch by the end of 2026, subject to Singapore's regulatory requirements.
Who holds my crypto on an Indian exchange?
The exchange does, until you withdraw the coins to a wallet you control. Check that the exchange is registered with FIU-IND, and move long-term holdings to self-custody only if you can store the seed phrase safely.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
