Standard Chartered Expands Digital Asset Services in Luxembourg and Beyond
by aria-crypto.com
January 9, 2025 at 18:16
Standard Chartered Expands Digital Asset Services in Luxembourg and Beyond
UK-based Standard Chartered Bank has announced the establishment of a new entity in Luxembourg to serve as its regulatory hub for crypto and digital asset custody services across the European Union. This strategic move coincides with the implementation of the EU’s Markets in Crypto Assets (MiCA) regulation, which aims to standardize digital asset operations throughout EU countries. The MiCA regulation's framework is designed to enhance consumer protection, market transparency, and stability in the digital asset space. Luxembourg, known for its stable regulatory and financial infrastructure, was chosen to support the expansion of Standard Chartered's digital asset services and meet EU client demands. Laurent Marochini, previously head of innovation at Société Générale, has been appointed CEO of the Luxembourg operations. Margaret Harwood-Jones, global head of financing and Securities Services at Standard Chartered, expressed excitement over the new offerings, highlighting their potential to transform traditional finance. Additionally, Standard Chartered has also launched crypto custody services in the UAE after securing a license from the Dubai Financial Services Authority. These advances indicate a significant commitment by Standard Chartered to integrating digital assets into their global financial services framework.
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