Standard Chartered to custody 21Shares’ digital assets
Standard Chartered, a major global bank, will custody the cryptocurrencies behind 21Shares’ investment products. Luxembourg’s main financial regulator oversees the arrangement to ensure compliance.
In a press release, Standard Chartered said 21Shares will place the digital assets behind its crypto exchange-traded products into custody on its platform.
Founded in 2018, 21Shares launched what it calls the first physically backed crypto exchange-traded product (ETP). Its products trade on major securities exchanges and are supported by the company’s research, technology, and capital markets expertise. Standard Chartered’s custody platform will store these digital assets as part of the bank’s broader digital asset services, which focus on secure storage and regulatory compliance for institutional clients.
The partnership between the companies is aimed at institutional investors who want regulated storage and controls for crypto exposure accessed through exchange-traded products. Standard Chartered points to its cross-border banking network and risk framework as part of the setup. According to 21Shares, the arrangement broadens the infrastructure supporting its crypto ETP range and reflects demand for institutional-grade services.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, stated: “We are excited to offer our digital asset custody services to ETP providers and other institutions, enabling them to meet the highest standards of safety and compliance.”
Mandy Chiu, Global Head of Product Development at 21Shares, commented: “Their support strengthens our ability to meet the evolving needs of institutional investors, providing compliant and transparent access to the crypto market.”
As we covered previously, U.S.-based crypto platform FalconX agreed in October to acquire 21Shares in a cash-and-equity deal, combining FalconX’s trading and brokerage services with 21Shares’ crypto investment products. Integration began immediately, keeping 21Shares’ operations intact while expanding distribution in regulated markets.
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