Standard Chartered Takes Lead Role in Crypto Custody for 21Shares

Standard Chartered has secured a significant partnership with fund manager 21Shares, which will see the bank provide digital asset custody services to the company. The move marks a major step for both organizations and represents an extension of Standard Chartered's expertise into the rapidly evolving digital asset ecosystem.

Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered, described the partnership as 'a significant step' for both parties. This comes despite 21Shares having partnered with Zodia Custody in June to hold its assets, a company co-founded by Standard Chartered in 2020.

It remains unclear whether Standard Chartered will replace Zodia Custody or operate alongside it. The move is part of a broader trend as more traditional financial institutions roll out crypto services, often with reputational advantages over crypto-native competitors.