Standard Chartered’s launch of crypto custody services in Luxembourg strengthens its EU presence, leveraging regulatory stability to meet rising demand for secure digital asset solutions.
Crypto Custody Takes Center Stage as Standard Chartered Expands to Luxembourg
Standard Chartered, a leading international banking group known for its presence across Asia, Africa, and the Middle East, has announced the launch of a new entity in Luxembourg to offer crypto and digital asset custody services within the European Union (EU). The move aligns with the Markets in Crypto Assets (MiCA) Regulation, which provides a unified framework for digital assets in the EU. The bank explained the strategic importance of this expansion in an announcement on Friday:
The opening of the business in Luxembourg is part of Standard Chartered’s global digital asset strategy, enabling broadening of its digital asset portfolio.
“This follows the recent launch of digital asset custody services in the UAE, with Luxembourg having a well-balanced regulatory and financial environment in order to meet growing client demand in the EU,” Standard Chartered added.
The Luxembourg entity will serve as the bank’s regulatory entry point for EU digital asset services, complementing its recent initiatives in the United Arab Emirates (UAE). Known for its comprehensive suite of financial services, including corporate banking, wealth management, and trade finance, Standard Chartered aims to cater to the rising demand for secure and regulated digital asset solutions.
Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, remarked on the significance of the launch: “We are really excited to be able to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is changing the landscape of traditional finance, whilst also providing the level of security that comes with being an appropriately regulated entity.”
Laurent Marochini has been appointed CEO of the Luxembourg entity. With extensive experience as the former Head of Innovation at Société Générale, Marochini is poised to lead this venture. He expressed his enthusiasm, stating: “It is an honour to join the leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence for our clients, team and stakeholders.” Luxembourg’s regulatory stability makes it a strategic choice for the bank’s latest expansion, strengthening its position in the growing digital asset ecosystem.
