Standard Chartered has recently obtained a license in Luxembourg to provide cryptocurrency custody services through a new entity. With this development, the bank is further expanding its presence in the growing European market for crypto-related businesses.
In an announcement made on Thursday, the bank stated that it has established a new entity in Luxembourg as its official entry point for regulatory compliance to offer crypto custody services to clients in the European Union.
This move is in accordance with the new Markets in Crypto Assets (MiCA) regulation, which came into effect on December 30. Laurent Marochini has been appointed as the CEO of Standard Chartered’s Luxembourg operations. He previously served as the Head of Innovation at Société Générale.
Margaret Harwood-Jones, the global head of financing and securities services at Standard Chartered, expressed excitement about offering digital asset custody services in the EU region.
