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EU Expands Crypto Frontiers: Standard Chartered Enhances Digital Asset Custody in Luxembourg

by aria-crypto.com

January 10, 2025 at 18:53

EU Expands Crypto Frontiers: Standard Chartered Enhances Digital Asset Custody in Luxembourg

Banking giant Standard Chartered has officially launched crypto custody services in the European Union, choosing Luxembourg as the base for this new venture. The introduction of these services aligns with the EU's strict Markets in Crypto Assets (MiCA) regulation, reinforcing the bank's commitment to compliant and secure digital asset management. Following its earlier initiatives in the UAE, this expansion sees Standard Chartered strengthening its position in the global crypto market. The Luxembourg entity is led by Laurent Marochini, who previously spearheaded innovation at Société Générale Securities Services. "We are excited to offer our EU clients high-quality digital asset custody services," stated Margaret Harwood-Jones, the bank's global head of financing and securities services. This move comes as a response to the growing institutional demand for reliable and regulated crypto services. Additionally, the entry into the EU market complements the bank's existing crypto trading desks for Bitcoin and Ethereum, further integrating digital assets into traditional financial models. Standard Chartered aims to provide a robust infrastructure for digital coins, addressing common challenges and fears associated with digital asset storage.

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