European Crypto Custody Gets a Boost with Standard Chartered’s Luxembourg Move

British multinational financial giant Standard Chartered has launched a new entity in Luxembourg to provide crypto custody services to European Union clients. This move comes in wake of the EU’s new ‘Markets in Crypto Assets’ (MiCA) regulation, which creates fresh opportunities in the region’s well-regulated and financially stable environment. 

This new entity will be led by newly-appointed Laurent Marochini, who brings valuable expertise from his previous role as Head of Innovation at Société Générale. This launch follows the launch of similar crypto-related services in the UAE, reflecting Standard Chartered’s growing global presence in the crypto industry. 

In a statement published on January 9, 2025, Margaret Harwood-Jones, Global Head, Financing & Securities Services at Standard Chartered, said: “We are really excited to be able to offer our digital asset custody services to the EU region.” She adds that the bank is proud to aid their institutional clients in accessing digital asset networks. 

Having already made its mark in the crypto space through successful ventures like Zodia Custody and Zodia Markets, Standard Charterer will further explore potential with stablecoin projects. The bank also remains bullish on Bitcoin, predicting the cryptocurrency could reach as high as $250,000.

Final Thoughts

As the crypto landscape continues to evolve, Standard Chartered positions itself at the forefront of digital innovation, providing institutional clients with the tools and services needed to navigate the ever-evolving and volatile market.

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