Standard Chartered: Bitcoin and Ethereum custody services to be launched in Hong Kong next year

According to a recent report by Hong Kong's Ming Pao, Standard Chartered Bank's Chief Executive Officer for Hong Kong and Greater China & North Asia, Ms. Kwan Wai-yee, revealed that Standard Chartered is actively expanding into the digital asset sector and plans to launch several innovative digital financial services in Hong Kong next year.

Key initiatives include launching digital asset custody services supporting Bitcoin and Ethereum, currently the two cryptocurrencies with the highest market capitalization, and actively seeking deep strategic partnerships with multiple financial institutions.

Standard Chartered Hong Kong further stated that it expects to launch its Bitcoin and Ethereum digital asset custody business in Hong Kong in January 2025, thereby expanding its successful services already implemented in Luxembourg and the UAE (via the Dubai International Financial Centre) to major Asian financial markets.

This move not only marks an important step in Standard Chartered's global expansion of digital asset services but also demonstrates Hong Kong's active role as an international financial center in promoting the compliance and institutionalization of the virtual asset market. As digital assets are increasingly accepted by the traditional financial system, Standard Chartered's strategic deployment is expected to provide institutional and high-net-worth clients with safer and more compliant digital asset storage and management solutions, further connecting the traditional financial sector with the virtual asset ecosystem and helping Hong Kong consolidate its leading position in digital financial innovation in the Asia-Pacific region.