Standard Chartered Expands Crypto Custody Services in Europe

Standard Chartered has received a license in Luxembourg to offer crypto custody services through a new entity, continuing its expansion in the crypto sector in Europe.

In a statement released Thursday, the bank announced that it has opened a new entity in Luxembourg to act as its EU regulatory entry point, offering crypto custody services to EU clients in compliance with the Markets in Crypto Assets (MiCA) regulation, which took effect on Dec. 30.

Laurent Marochini has been appointed as the new CEO of Standard Chartered’s Luxembourg operations. Marochini previously served as Head of Innovation at Société Générale.

Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered, expressed enthusiasm about offering digital asset custody services in the EU region, emphasizing the ability to support clients with a product that transforms traditional finance while ensuring security through proper regulation.

The Luxembourg license follows the bank’s launch of crypto custody services in the UAE in September.