Standard Chartered to expand crypto custody services in Singapore

Expansion into Singapore

Standard Chartered is expanding its crypto custody services to Singapore, in line with its strategic plans to grow its digital assets business. The bank said the service would extend its existing crypto custody footprint in the UAE, Luxembourg, and Hong Kong. This move is part of Standard Chartered's efforts to strengthen its position in the Asia-Pacific region, where crypto adoption is on the rise.

Existing Presence

Standard Chartered has already established a strong presence in the region, with a significant customer base and a robust network of branches. The bank's existing crypto custody services in the UAE, Luxembourg, and Hong Kong have been successful, and the expansion into Singapore is seen as a natural next step. The service will enable Standard Chartered to cater to the growing demand for crypto custody solutions in the region.

Benefits for Customers

The expansion of crypto custody services in Singapore will provide customers with greater access to digital assets, including cryptocurrencies and other digital securities. This will enable them to diversify their investment portfolios and take advantage of the growing demand for crypto assets in the region. The service will also provide Standard Chartered with a competitive edge in the market, as it expands its digital assets business and builds on its existing presence in the region.