- Standard Chartered secures MiCA license, launching Bitcoin and crypto custody services in Luxembourg to expand EU presence.
- The bank bridges traditional finance and digital assets, offering secure, compliant crypto custody for growing institutional demands.
- Luxembourg’s launch marks a milestone in Standard Chartered’s global strategy, enhancing its footprint in the crypto market.
According to Bitcoin Magazine, Standard Chartered has finally entered the European Union’s crypto market. It received a license from the regulator for Bitcoin and cryptocurrency custody under the Markets in Crypto-Assets law in Luxembourg, further setting concrete in Europe after the digital asset strategy it’s been working on to expand its global offerings.
Leveraging MiCA and Luxembourg’s Regulatory Clarity
The MiCA framework, effective since December 2024, establishes a unified regulatory structure for crypto businesses across the EU. Standard Chartered’s license as a Crypto Asset Service Provider (CASP) enables seamless operations throughout the bloc.
By choosing Luxembourg, the bank benefits from the region’s financial stability and transparent regulations. Laurent Marochini, a former Société Générale executive, will lead the Luxembourg operations. He aims to integrate innovation and compliance into Standard Chartered’s crypto services.
Besides its European launch, the bank has previously introduced similar services in the UAE. This global expansion underscores its commitment to bridging traditional finance with digital assets.
Cutting-Edge Solutions for Institutional Clients
The aim is to provide Bitcoin and Ethereum custody services in this case meeting institutional clients’ growing demands. These offerings emphasize high-security standards to align with Europe’s strict compliance requirements.
Margaret Harwood-Jones, the bank’s Global Head of Financing and Securities Services, stated that these solutions redefine traditional finance. She added that security and regulatory adherence remain the foundation of their offerings.
Moreover, this move builds on the bank’s broader strategy. Earlier, Standard Chartered explored crypto trading services under its foreign exchange unit in London. Since 2021, it has joined alliances promoting crypto adoption alongside Coinbase and other industry leaders.
Expanding Global Reach
The Luxembourg launch is a critical milestone in Standard Chartered’s digital asset strategy. Besides fostering EU operations, it enhances the bank’s global footprint in crypto. Standard Chartered is positioning itself as a key player in digital finance. This expansion highlights its proactive approach to integrating innovative services within secure and compliant frameworks.
