Standard Chartered to provide custody for 21Shares' digital assets

Global bank Standard Chartered will serve as the custody provider for the digital assets of global ETF issuer 21Shares.

On the 25th (local time), Cointelegraph, a media outlet specializing in virtual assets (cryptocurrencies), reported that "Standard Chartered said 21Shares had decided to use its new digital asset custody services."

Earlier, in June last year, 21Shares signed a partnership with Zodia Custody, a crypto custody firm co-founded by Standard Chartered. However, it was not clear whether this announcement means Standard Chartered will replace Zodia Custody's role or operate alongside it.

Mandy Chiu, head of product development at 21Shares, said, "Cooperation with traditional financial institutions is an important step to accelerate the institutional adoption of the digital asset market," and "Standard Chartered's global network and risk management capabilities will help build a trust-based infrastructure at the level institutional investors require."