Standard Chartered wins license in Luxembourg to offer crypto custody services

Standard Chartered has established a new entity in Luxembourg to provide crypto custody services across the European Union under the MiCA regulation.

British multinational financial giant Standard Chartered has established a new entity in Luxembourg to offer crypto custody services to European Union clients as the EU implements the Crypto Asset Markets regulation, also known as MiCA.

The Luxembourg office will be part of the bank’s global push into the crypto space, following the launch of similar services in the UAE, the bank said in a press release on January 9. The press release states that Laurent Marochini will join from Société Générale, where he will lead the Luxembourg unit as managing director and was responsible for innovation.

“We are really excited to be able to offer our digital asset custody services to the EU region,” said Margaret Harwood-Jones, head of global finance and securities services at Standard Chartered, adding that the bank is proud to help institutional clients access the platform. digital asset ecosystem.

“It is an honor to join leading international bank Standard Chartered Luxembourg as CEO. “I am fully committed to delivering excellence to our customers, team and stakeholders.”

Laurent Marochini

The bank is heavily involved in crypto, with successful ventures such as Zodia Custody and Zodia Markets. He also remains optimistic about Bitcoin (BTC), predicting that it could rise to $250,000 in the near future. The bank is also exploring stablecoin startups that have been incorporated into Hong Kong’s stablecoin issuer sandbox.