Global banking giant Standard Chartered has officially entered the European crypto market through its newly established Luxembourg entity. The move follows the bank’s successful acquisition of a digital asset license under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework.
On Jan. 9, the bank announced that its Luxembourg entity would serve as the central hub for offering cryptocurrency and digital asset custody services across Europe. This development marks a significant step in integrating traditional banking with the growing digital asset ecosystem.
Laurent Marochini, formerly with Société Générale, will lead the Luxembourg operation as its CEO.
Expanding Global Reach
This launch is part of Standard Chartered’s broader digital asset strategy. It follows the bank’s introduction of crypto custody services in the United Arab Emirates in September 2024, which provided clients access to Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies.
Margaret Harwood-Jones, the bank’s global head of financing, emphasized the importance of high-security standards in the new services. “We are proud to offer our institutional clients a secure way to access the evolving digital asset ecosystem,” she stated.
A Long-Term Vision
Standard Chartered has been exploring opportunities in the crypto sector for years, with early plans to launch a crypto exchange in Europe dating back to 2021.
Summary Review: Standard Chartered’s entry into the European crypto market highlights its commitment to bridging traditional finance and digital assets. With a regulated approach and a focus on security, the bank aims to set new standards for institutional access to cryptocurrencies.
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