Standard Chartered and Solowin Holdings’ digital asset platform AXG have launched a crypto custody service in Hong Kong aimed at institutional clients and professional investors.
The companies said the offering is the first institutional crypto custody solution in Hong Kong provided by a Global Systemically Important Bank (G-SIB).
The custody framework was developed with regulators, infrastructure providers and technology partners, according to the financial partners. The service is designed to comply with Hong Kong’s digital asset regulations and includes custody, governance and risk management functions.
Standard Chartered provides the custody infrastructure and risk management framework through its digital asset and institutional banking operations.
Mary Huen, CEO for Hong Kong and Greater China & North Asia at Standard Chartered, said:
“This milestone reflects the progress Hong Kong is making in building a robust and well-regulated digital asset environment, and underscores the importance of collaboration between banks, clients, regulators and the wider ecosystem in bringing institutional use cases to life. Through our close partnership with AXG and ongoing engagement with regulators, we are demonstrating how the ecosystem can work together to responsibly scale digital asset adoption at pace. Together, we are proud to deliver this market-first initiative and support Hong Kong’s ambition to be a leading global digital finance hub.”
Hong Kong has expanded its regulatory framework for digital assets in recent years, including licensing requirements for crypto trading platforms and initiatives related to tokenisation and digital finance.
Dr. Thomas Zhu, Co-founder and CEO of AXG, said:
“Partnering with Standard Chartered has been instrumental in bringing this landmark custody solution to life. Their deep experience in custody, risk management and regulatory engagement has given us the confidence to move forward in a complex and fast-evolving market. This marks an important step not just for AXG, but for the broader digital asset ecosystem in Hong Kong.”
Crypto custody is the storage and safeguarding of digital assets such as cryptocurrencies, tokenised assets, or private cryptographic keys on behalf of users or institutions.
In crypto markets, ownership of assets is controlled through private keys. If those keys are lost, stolen, or compromised, the assets can become inaccessible or be transferred irreversibly. Custody services are designed to reduce that risk.
Custody services have become a focus area for banks and financial institutions expanding into digital assets, particularly for institutional clients seeking regulated storage and operational safeguards.
Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, said:
“As digital assets move from experimentation to institutional adoption, trusted custody becomes a critical foundation. This market-first initiative with AXG demonstrates how institutional-grade custody, built to high standards of asset protection, governance and operational resilience, can support the safe participation of regulated institutions in the digital asset market. By working closely with clients, regulators and ecosystem partners, we are building scalable infrastructure that supports the long-term and responsible growth of digital assets in leading financial centres such as Hong Kong.”
