Standard Chartered and Coinbase Expand Partnership in Digital Asset Infrastructure
Standard Chartered Bank and Coinbase have announced an expansion of their partnership aimed at building an advanced digital asset infrastructure for institutional clients. This move comes amid growing institutional demand for secure, regulated digital solutions that comply with global market standards.
Comprehensive Suite of Institutional Digital Services
As part of the expanded collaboration, the two firms will explore offering a full suite of services, including trading, core banking, custody, storage, and lending, according to Standard Chartered’s announcement on Friday. This initiative underscores both companies’ commitment to strengthening their footprint in the institutional digital services sector.
Margaret Harwood-Jones, Global Head of Finance and Securities at Standard Chartered, emphasized:
“We aim to explore ways for both institutions to develop secure, transparent, and interoperable solutions that meet the highest standards of security and regulatory compliance”.
Leveraging Combined Expertise in Banking and Digital Assets
The partnership brings together Standard Chartered’s cross-border banking and custody expertise with Coinbase’s institutional digital asset platform. By integrating these capabilities, the collaboration aims to provide institutional clients with a secure and compliant framework for trading and managing digital assets.
This approach is designed to meet the increasing demand from institutional investors for trusted and regulated digital asset solutions, bridging traditional finance with the growing digital investment ecosystem.
Strengthening Existing Singapore Operations
This announcement also builds on the firms’ existing relationship in Singapore, where Standard Chartered already provides banking connectivity services to Coinbase. This enables instant Singapore dollar transfers for Coinbase clients, enhancing efficiency in cross-border financial transactions and improving operational workflows.
Standard Chartered’s Broader Digital Asset Initiatives
The expansion with Coinbase aligns with Standard Chartered’s broader digital asset strategy. Last year, the bank partnered with Crypto.com to launch global retail banking services, allowing users in over 90 countries to deposit and withdraw US dollars, euros, and UAE dirhams via the app. These efforts highlight Standard Chartered’s ongoing commitment to supporting institutional and retail digital asset infrastructure.
Coinbase’s Upcoming Product Launches
Meanwhile, Coinbase is expected to unveil new products next week, potentially including prediction markets and digitally represented stocks, reflecting the company’s strategy to diversify its digital investment offerings. These new products aim to provide institutional and retail investors with broader exposure to digital assets in a regulated environment.
Regulatory Developments in the U.S. Digital Asset Sector
On the regulatory front, the U.S. Office of the Comptroller of the Currency (OCC) conditionally approved national trust bank license applications from five companies operating in the digital asset sector.
These approvals involve:
- BitGo, Fidelity Digital Assets, and Paxos, which plan to convert existing state-licensed trusts into national trust banks.
- Circle and Ripple, which recently submitted new applications for national trust bank status.
These regulatory approvals signal growing support for institutional adoption of digital assets within a secure and compliant framework, complementing partnerships like Standard Chartered and Coinbase’s efforts to expand institutional digital services.
