Standard Chartered wins license in Luxembourg to offer crypto custody services

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Under the MiCA regulatory framework, Standard Chartered has established a new entity in Luxembourg, offering cryptocurrency custodial services throughout the European Union.

Under the purview of the European Union’s MiCA (Markets in Crypto Assets) regulations, Standard Chartered, a global financial powerhouse based in the UK, has established a new entity in Luxembourg to provide crypto custody services to its EU clients.

On January 9th, the bank announced that its Luxembourg office would be a part of their worldwide expansion into the cryptocurrency sector, mirroring the introduction of similar services in the UAE. According to the press release, Laurent Marochini will oversee the Luxembourg branch as CEO, having previously led innovation at Société Générale.

Margaret Harwood-Jones, head of global financing and securities services at Standard Chartered, shared her enthusiasm about extending their digital asset storage solutions to the European Union area. She noted that the bank takes pride in aiding institutional clients in navigating the digital asset market.

I’m thrilled to take on the role of CEO at Standard Chartered Luxembourg, one of the world’s top banks. My pledge is to consistently provide outstanding service to our clients, collaborate with my team, and ensure satisfaction for all our shareholders.

Laurent Marochini

The financial institution has a strong presence in the cryptocurrency sector, boasting successful projects such as Zodia Custody and Zodia Markets. It’s bullish about Bitcoin (BTC), anticipating it may reach $250,000 soon. Additionally, it is considering stablecoin projects, having been granted access to the sandbox for stablecoin issuers in Hong Kong.

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2025-01-09 14:15