The service would cover crypto, stablecoins and tokenized assets and sit in the bank's financing and securities-services unit; no start date has been set.
Standard Chartered is planning a custody service in Singapore for crypto, stablecoins and tokenized assets, the bank said.
The business would sit inside the bank's financing and securities-services unit, not retail, and no start date has been set. The bank has not detailed which assets or client segments would be covered.
Reported by The Wrap desk from Digital Capital Daily coverage data and CoinDesk. Published . Corrections
None of the three banks put a revenue figure on the opportunity; Goldman's Solomon calls the activity 'small and at the margin.'
CoinDesk reports the talks are ongoing and may not result in a deal.
The six banks that dominate Canadian finance are testing a shared tokenized-deposit rail, and what they have not committed to — issuing a deposit at all — is the part that tells you what this is.
The Hong Kong dollar token is fully backed by high-quality liquid assets in separate accounts; a tokenized money market fund share class is next.
The brokerage formerly known as Hidden Road announced the service on Oct. 15, with Virtu already trading.
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