Standard Chartered has announced that it has been appointed as digital asset custodian for 21Shares, described in the release as one of the world’s largest issuers of crypto exchange-traded products. According to the bank, the mandate expands the institutional services behind 21Shares’ range of crypto investment products and its existing risk-management setup.
The arrangement will make use of Standard Chartered’s newly established digital asset custody service in Luxembourg. The bank states that the platform is registered with the country’s financial regulator, the CSSF, and is designed to provide secure and compliant storage of digital assets.
Increasing demand
Both firms link the collaboration to increasing demand from institutional clients seeking access to digital assets and digital-asset-linked products. Standard Chartered highlights its global experience as a cross-border bank, together with its risk-management framework and digital asset offering, as the basis for supporting 21Shares’ expansion toward institutional users.
In the bank’s announcement, Margaret Harwood-Jones, Global Head of Financing and Securities Services, said the service aims to enable ETP providers and other institutions to meet “the highest standards of safety and compliance.” She added that working with 21Shares allows the bank to extend its expertise into the digital-asset ecosystem.
Institutional-grade infrastructure
From 21Shares’ perspective, the company describes the partnership as part of its effort to bring institutional-grade infrastructure to the digital asset market. Mandy Chiu, the firm’s Global Head of Product Development, said that the involvement of Standard Chartered strengthens its ability to offer compliant and transparent access to crypto for institutional investors.
The release frames the cooperation as contributing to what both firms describe as a maturing environment for digital asset adoption.
