YEREVAN (CoinChapter.com) — Standard Chartered has launched crypto services in Europe after securing a digital asset license in Luxembourg. The bank is leveraging the EU’s Markets in Crypto-Assets (MiCA) regulation to expand its digital asset offerings. The newly established Luxembourg entity will serve as a regulated gateway for institutional clients seeking secure custody of cryptocurrencies.
On Jan. 9, Standard Chartered confirmed its plans to operate within the MiCA framework, with Laurent Marochini, former head of innovation at Société Générale, as the CEO of the Luxembourg entity.
Standard Chartered Luxembourg Crypto License. Source: Sc.comCustody Services for Bitcoin and Ether Only
At its initial phase, the crypto services will focus on custody for Bitcoin (BTC) and Ether (ETH), with additional digital assets planned for 2025. The bank’s head of digital assets, Waqar Chaudry, clarified that trading services are not included in the current offering.
“We are not offering trading through Luxembourg; there is no clear timeline as that is not planned for the moment,”
Chaudry stated.
Standard Chartered emphasized the high-security measures integrated into its custody services. The bank is allocating significant risk capital and balance sheet resources to ensure robust protection of client assets.
UAE Crypto Services Set the Stage for European Expansion
This move follows Standard Chartered’s earlier success in the United Arab Emirates (UAE), where it launched similar crypto custody services in September 2024. The UAE operations also provided access to Bitcoin and Ether for institutional clients.
Standard Chartered UAE Crypto Custody MOU. Source: Sc.comThe Luxembourg launch marks another step in the bank’s global strategy to integrate digital assets into its financial ecosystem.
Standard Chartered’s Focus on Institutional Clients and Regulatory Compliance
Standard Chartered’s digital asset license in Luxembourg aligns with its long-term strategy to cater to institutional clients. The custody service focuses on safeguarding digital assets, with the Luxembourg entity operating under stringent financial regulations.
Margaret Harwood-Jones, the global head of financing at Standard Chartered, highlighted the bank’s commitment to regulatory compliance and secure infrastructure. She noted that these services meet the evolving needs of institutional clients entering the digital asset market.
Standard Chartered: A History of Crypto Involvement
Standard Chartered has explored opportunities in the cryptocurrency sector for several years. In 2021, reports surfaced about the bank planning to establish a crypto exchange in Europe. Additionally, Standard Chartered joined an alliance of fintech firms and financial institutions to promote best practices in the digital asset industry.
StandardChartered Digital Currencies Outlook. Source: Sc.comThe alliance included key players like Coinbase, Huobi, and Six Digital Exchange, underscoring the bank’s role in advancing institutional crypto adoption.
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