Standard Chartered Eyes Hong Kong for First In-House Gold Vault

Standard Chartered is considering building a proprietary gold vault in Hong Kong to capture booming Asian demand for safe-haven assets.

The bank is assessing site options for the self-operated facility, John Thang, a regional markets head, said Monday. If realized, the project would be the British lender’s first proprietary gold vault.

A Standard Chartered representative told Caixin the vault would allow the bank to extend its services for corporate and investment banking clients from trade execution and settlement to storage. Spurred by rising bullion prices, the move reflects growing client interest in utilizing Asian trading centers, the person said.