Capital Signs Standard Chartered Partnership To Expand Global Virtual Asset Banking Support
The companies said the partnership is already operational across the MENA region and Europe. Capital said the virtual asset services offered under the Capital brand are provided by its regulated affiliates, which it described as the Capital Vault entities: Capital Vault Virtual Services L.L.C. – S.P.C in the UAE and Capital Vault Ltd in Cyprus.
Banking services for settlement and client fundsUnder the agreement, Capital said it will gain access to Standard Chartered's global institutional banking network. The coverage includes what the release calls fiat settlement and client money account services, along with wider virtual asset-related
Capital said the arrangement is intended to allow the group to operate with a single global banking relationship for managing client funds and settlement activity connected to the virtual asset services offered through its affiliates. The company added that this will be carried out within the governance and controls required by its regulators in each jurisdiction.
Company and bank commentsStandard Chartered said the partnership reflects increased integration of virtual assets into mainstream finance and the need for banking infrastructure. In the release, Ying Ying Tan, Global Head of Securities Services and Global Head of Digital Assets at Standard Chartered, stated that“robust, transparent and internationally connected banking infrastructure” is becoming more important as virtual assets become more integrated into mainstream finance. Tan said Standard Chartered brings a global network and governance and risk management capabilities to support movement and management of fiat liquidity across
Capital's Rahul Kumar, Head of Digital Assets, said clients should be able to understand how their money and assets are held and by whom. Kumar added that working with Standard Chartered provides the virtual asset services through Capital Vault entities with a single regulated banking relationship for fiat settlement and client money-related services, operating within governance standards required by regulators in the UAE and Cyprus.
Operational status and regulatory framingThe release described the partnership as a step to strengthen Capital's banking infrastructure as it expands its virtual asset offering globally, including what it said is a scalable foundation for managing client funds and settlement activity across
Capital also noted that its virtual asset services are provided by regulated entities. The company included risk wording in the release stating that virtual assets are highly volatile and may rapidly lose value, and that the information is for media use only.
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