Standard Chartered Launches Crypto Custody Services in Luxembourg

Standard Chartered, a British multinational financial giant, has established a new entity in Luxembourg to provide crypto custody services across the European Union. This move is in line with the implementation of the Markets in Crypto Assets (MiCA) regulation.

A New Entity in Luxembourg

The Luxembourg office will be part of Standard Chartered’s global expansion into the crypto space, following the launch of similar services in the UAE. Laurent Marochini, former head of innovation at Société Générale, will lead the Luxembourg entity as chief executive.

According to Margaret Harwood-Jones, global head of financing & securities services at Standard Chartered, “We are really excited to be able to offer our digital asset custody services to the E.U. region.” The bank aims to help institutional clients access the digital asset ecosystem.

“It is an honor to join the leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence for our clients, team and stakeholders.”

Standard Chartered’s Crypto Ventures

Standard Chartered has been actively involved in the crypto space, with successful ventures like Zodia Custody and Zodia Markets. The bank remains optimistic about Bitcoin, predicting it could rise to $250,000 in the near future. Additionally, Standard Chartered is exploring stablecoin initiatives, having been included in Hong Kong’s stablecoin issuer sandbox.

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Key Takeaways:

  • Standard Chartered launches crypto custody services in Luxembourg under MiCA regulation.
  • The bank aims to help institutional clients access the digital asset ecosystem.
  • Standard Chartered is optimistic about Bitcoin and is exploring stablecoin initiatives.
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