British banking giant Standard Chartered announced today that it has obtained a license in Luxembourg to offer digital asset custody services. 

The news comes after the bank secured a digital asset license under the newly enacted Markets in Crypto-Assets (MiCA) framework, which provides unified crypto regulations across the EU. 

A Point Of Entry for the European Union

In a recent press release, Standard Chartered announced the establishment of a new entity in Luxembourg. This entity will serve as the bank’s regulatory entry point within the EU, allowing it to offer crypto custody services to clients across the region.

“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,” said Margaret Harwood-Jones, Global Head of Financing at Standard Chartered. 

Laurent Marochini, previously head of innovation at Société Générale, will lead Standard Chartered’s new Luxembourg entity. Establishing a new entity in Luxembourg represents a step forward in Standard Chartered’s global strategy to expand its digital asset custody services. 

Back in September, the bank also successfully launched these services in the UAE. Overall, Standard Chartered has increasingly adopted crypto services and developments in the past year.

In October last year, the bank partnered with crypto exchange OKX to introduce a new security standard. As part of the partnership, OKX claimed Standard Chartered would be the exchange’s new third-party crypto custodian for institutional clients.

In June, reports sugge

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Author: Camila Grigera Naón