So, Standard Chartered, that massive old-school bank, has decided to start handling crypto for 21Shares. Yeah, you heard me right-crypto. The same bank that’s probably been saying “no, no, no” to Bitcoin for years is now like, “Hey, we got this.” And who are they handling? 21Shares, a company that does all sorts of fancy crypto products, including exchange-traded ones. Guess what? They were already working with a crypto-native custodian. But now? Apparently, Standard Chartered’s here to shake things up. 😏
Here’s the thing. This whole thing was announced Monday-by Standard Chartered, mind you, through CryptoMoon (I know, who comes up with these names?)-and Margaret Harwood-Jones, who’s big in the bank’s financing and securities services, is all excited. She said the collaboration is a chance for the bank to show off its “expertise” in the fast-paced digital asset world. Translation: “We know what we’re doing, trust us.” But the question is, did 21Shares need the help? They were just fine with their previous partner, Zodia Custody. In fact, they’d been cozy with Zodia since June, which just happens to be a crypto-native custodian co-founded by-you guessed it-Standard Chartered in 2020. Oh, the drama! 🙄
And now the million-dollar question: Will Standard Chartered just swoop in and replace Zodia Custody? Or will they just play nice and exist together in some weird financial ecosystem? No one knows, and apparently, no one’s commenting either. Classic move, right? Just leave everyone hanging. 🤷♂️
Traditional Finance Just Can’t Stay Away from Crypto
So, Standard Chartered’s big play here is to help 21Shares with a shiny new digital asset custody service in Luxembourg. Sounds fancy, huh? This follows the bank’s July move to offer crypto trading for institutions. So much for sticking to “safe” investments. The world is changing, people! 21Shares’ Mandy Chiu, of course, is all proud about this collab. She’s all like, “This is a huge milestone,” and points to the bank’s stellar reputation in traditional finance. Yeah, Mandy, we get it-Standard Chartered has been around forever. We’re not exactly surprised they know how to move money around.
“As one of the world’s most trusted financial institutions, Standard Chartered brings deep expertise in cross-border banking, risk management, and custody.”
Right. Trustworthy. Sure. But hey, they’re not the only ones jumping on the crypto bandwagon. Oh no, US Bancorp is back in the game, too. After shutting down its first attempt at crypto custody back in 2021 (who could forget that?), they’ve relaunched their service with the hopes of not getting shut down again. Meanwhile, Citigroup and Deutsche Bank are also thinking about letting their clients store crypto. Because, you know, everyone’s just rushing in now. The more, the merrier, right? 🙃
The Big Crypto Conundrum
Of course, this whole thing is making crypto-native folks a little nervous. Competition is heating up, and some people are not thrilled about what this could mean for the “pure” spirit of crypto. Take Martin Hiesboeck from Uphold, who’s all concerned that Bitcoin being moved into ETFs is, like, “the final nail in the coffin” for the whole rebellious crypto ethos. Then, Robbie Mitchnick from BlackRock proudly announces that they’ve already helped convert $3 billion worth of Bitcoin into ETFs. For the record, people love the convenience of blending their Bitcoin into their regular financial adviser accounts. Easy peasy, right? 🙃
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2025-11-25 18:20