Standard Chartered, the British banking giant, has obtained a license in Luxembourg to provide digital asset custody services across the European Union. This milestone follows the bank’s efforts to expand its crypto services under the newly implemented Markets in Crypto-Assets (MiCA) regulations, which aim to unify crypto rules across the EU. The new license allows Standard Chartered to establish a regulated entry point into the EU through a dedicated entity in Luxembourg. This will enable the bank to offer secure crypto custody services to institutional clients across the region. Margaret Harwood-Jones, Global Head of Financing at Standard Chartered, expressed enthusiasm about the development, saying the new service combines innovation with the security of regulated banking. Laurent Marochini, formerly with Société Générale, will lead the Luxembourg-based entity. The establishment marks another step in Standard Chartered’s global strategy to expand its digital asset offerings . In September, the bank successfully launched similar services in the UAE, reinforcing its position as a global player in the digital finance sector. Standard Chartered has actively embraced cryptocurrency services over the past year. In October, it partnered with crypto exchange OKX to introduce a new security standard for institutional clients, with Standard Chartered serving as OKX’s third-party crypto custodian. In June, reports emerged about the bank setting up a trading desk for Bitcoin and Ethereum, making it one of the first global banks to venture into spot cryptocurrency trading. The bank has also invested heavily in its crypto-related subsidiaries, Zodia Custody and Zodia Markets, which focus on custody and over-the-counter trading for institutional clients. In November 2024, Standard Chartered launched its blockchain unit, Libeara , further solidifying its commitment to blockchain and digital assets. The MiCA framework, implemented just days ago, is driving the expansion of crypto services across Europe . More companies are now seeking compliance to benefit from the unified regulatory landscape. For example, MoonPay was among the first international firms to receive a MiCA license in the Netherlands. Other firms, like the Dutch asset management company BitStaete and Socios.com, have also secured MiCA approval. Socios.com, a fan engagement platform, can now operate as a regulated virtual financial asset provider in Europe. Bitget, a crypto exchange, recently announced plans to establish a regional hub in Lithuania to comply with MiCA regulations and strengthen its presence in the European market. Hunter Horsley, CEO of Bitwise, highlighted the significance of traditional banks entering the crypto space, stating, “2025 will be the year several traditional banks launch crypto services.” Standard Chartered’s latest achievement underscores this trend, signaling a growing alignment between traditional finance and the rapidly evolving crypto sector.
