Standard Chartered Expands Crypto Custody to Europe

Standard Chartered, one of the world’s largest banks, has taken its cryptocurrency ambitions to Europe by securing a digital asset license in Luxembourg, reports TradingView.

Announced on January 9, the bank has created a Luxembourg-based entity to serve as its regulatory hub for offering crypto custody services across the European Union. The decision aligns with the EU's recently implemented Markets in Crypto-Assets (MiCA) Regulation.

Laurent Marochini, a former Société Générale executive, will lead the new venture as CEO. Initially, the service will focus on custody solutions for Bitcoin (BTC) and Ether (ETH), with plans to expand offerings in 2025. Waqar Chaudry, Standard Chartered’s head of digital assets, clarified that the Luxembourg operations will not include crypto trading at this stage.

The move is part of Standard Chartered’s global digital asset strategy, which already includes crypto custody services launched in the United Arab Emirates in 2024. Margaret Harwood-Jones, the bank’s global head of financing, expressed pride in offering regulated, high-security digital asset services to institutional clients, calling it a transformative step for traditional finance.

The bank has long been exploring crypto opportunities, joining forces with industry leaders like Coinbase and Huobi in 2021 to promote best practices in digital assets.