Standard Chartered Bank has established a new Luxembourg entity that provides crypto and #Bitcoin custody services across the European Union (EU). 

This move serves as a regulatory entry point into the EU market. It aligns with the bank’s strategic response to growing client demand for secure digital asset solutions following the implementation of the Markets in Crypto-Assets (MiCA) regulation.

A Broader Digital Asset Strategy

Per their press release, this development is part of Standard Chartered’s broader digital asset strategy, reflecting its ambition to expand global custody offerings. The bank chose Luxembourg due to its well-regulated financial environment. It deemed it suitable for addressing the increasing institutional interest in the EU market.

Notably, Laurent Marochini has been appointed the CEO of the Luxembourg entity. He brings significant expertise to the role, having previously served as Head of Innovation at Société Générale. Marochini’s leadership is expected to bolster the bank’s efforts to establish a robust foothold in the EU digital asset ecosystem.

Margaret Harwood-Jones, the Global Head of Financing & Securities Services at Standard Chartered, expressed enthusiasm about the bank’s latest expansion into the European Union’s digital asset market.

Harwood-Jones highlighted the strategic importance of offering regulated digital asset custody services in the region. Moreover, she emphasized the bank’s commitment to providing institutional clients with secure solutions aligned with evolving financial ecosystems. 
#Crypto