Crypto Expansion: Standard Chartered Bolsters EU Presence with MiCA-Compliant Custody Services
by aria-crypto.com
January 9, 2025 at 21:34
Crypto Expansion: Standard Chartered Bolsters EU Presence with MiCA-Compliant Custody Services
British banking giant Standard Chartered has secured a license in Luxembourg to expand its crypto services across the EU. The license, aligned with the recent Markets in Crypto-Assets (MiCA) regulations, positions Luxembourg as the bank's EU regulatory hub. This strategic move enables Standard Chartered to offer secure digital asset custody to its clients throughout the region. Margaret Harwood-Jones, Global Head of Financing, expressed excitement about supporting EU clients with innovative digital asset solutions that integrate traditional finance security. Laurent Marochini, a former Société Générale executive, will lead this new Luxembourg entity. The bank's commitment to digital assets also includes partnerships, such as with crypto exchange OKX, to enhance security standards for institutional clients. Earlier initiatives saw the launch of similar services in the UAE and the setup of a trading desk for Bitcoin and Ethereum. Additionally, Standard Chartered has invested in its brokerage arms, Zodia Custody and Zodia Markets, providing custody and trading services to institutional clients. In a broader move, the bank also launched its blockchain unit Libeara in November 2024.
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