emre yumlu 
Standard Chartered is launching cryptocurrency services in Europe with its new entity in Luxembourg, having obtained a MiCA license.
One of the world’s largest banks, Standard Chartered, has initiated cryptocurrency services in Europe by acquiring a digital asset license in Luxembourg.
On January 9, the bank announced the establishment of a new entity in Luxembourg to provide cryptocurrency and digital asset custody services within the European Union.
This step follows the implementation of the Markets in Crypto-Assets (MiCA) Regulation, a significant regulatory framework for digital assets in the EU.
Laurent Marochini, formerly the head of innovation at Société Générale, will lead Standard Chartered’s Luxembourg entity as CEO.
Standard Chartered launched this initiative in Luxembourg as part of its broader digital asset strategy aimed at expanding its crypto custody services globally.
The new venture comes a few months after the bank introduced crypto custody services in the United Arab Emirates in September 2024. As part of the offering, Standard Chartered provides access to Bitcoin and Ether, the two largest cryptocurrencies by market capitalization.
Margaret Harwood-Jones, Standard Chartered’s global head of financing, expressed, “We are thrilled to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is transforming traditional finance.”
She emphasized that the new services will adhere to high-security standards as a regulated entity in Europe and added, “We are incredibly proud to be paving the way for our institutional clients to access the digital asset ecosystem.”
Standard Chartered Has Been Planning Crypto Services for Years
Standard Chartered’s crypto trading services were first reported to be under development in June 2024. At the time, some reports suggested that the bank planned to operate the service through its foreign exchange trading unit in London.
This initiative was seen as a significant reflection of the growing interest in the crypto sector within traditional finance.
However, the bank’s interest in crypto trading services dates back much earlier. The company had been exploring opportunities within the crypto ecosystem for years, with reports indicating that in 2021, it was considering launching a crypto exchange in Europe. These early efforts showcase the bank’s commitment and long-term vision for the digital asset space.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.