Standard Chartered Secures European Crypto license

Standard Chartered acquired a digital asset license in Luxembourg and is launching cryptocurrency services in Europe.

The bank declared that it would create a new company in Luxembourg to serve as its regulatory entry point into the European Union for providing custody services for digital assets and cryptocurrency.

A significant crypto regulatory framework in the EU was taken following the adoption of the Markets in Crypto-Assets (MiCA) Regulation. The CEO of Standard Chartered’s Luxembourg division will be Laurent Marochini, a former head of innovation at the French financial giant Société Générale.

Crypto custody, or the service for keeping and safeguarding digital assets on behalf of their owners, will also be a unique feature of Standard Chartered’s crypto products in the EU.

According to Chaudry, “there is no clear timeline as that is not planned for the moment; we are not offering trading through Luxembourg.”. He added that Standard Chartered is the only international bank in this field with a sizeable risk capital and balance sheet.

The bank first offered cryptocurrency custody services in the United Arab Emirates in September 2024, and this new launch follows a few months later. Additionally, Standard Chartered included exposure to the two biggest cryptocurrencies by market capitalization, Bitcoin and Ether, in the offering.

“We are thrilled to be able to provide our digital asset custody services to the EU region, allowing us to assist our clients with a product that is transforming the traditional finance landscape,” stated Margaret Harwood-Jones, global head of financing at Standard Chartered.

She underlined that the new services will comply with strict security regulations as a regulated organization in Europe.

 

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Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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