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Highlights
- Launch of crypto custody services in Luxembourg aligns with EU’s MiCA Regulation.
- New entity enhances secure digital asset solutions within a regulated framework.
- Laurent Marochini appointed CEO to lead Luxembourg operations.
Standard Chartered (LON:STAN), a prominent international banking group, has expanded its digital asset services by launching a crypto custody entity in Luxembourg. This strategic move strengthens the bank's presence in the European Union (EU), aligning with the Markets in Crypto Assets (MiCA) Regulation, which provides a standardized framework for digital asset operations across the region.
The Luxembourg initiative follows Standard Chartered’s recent rollout of digital asset custody services in the United Arab Emirates (UAE). Luxembourg’s stable regulatory and financial environment makes it an ideal location to cater to the increasing demand for secure and compliant digital asset solutions.
Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, highlighted the significance of the expansion: “We are thrilled to bring our digital asset custody services to the EU, providing secure and regulated solutions that bridge the gap between traditional finance and the evolving digital asset landscape.”
The Luxembourg entity will act as Standard Chartered’s regulatory entry point for EU digital asset services. It complements the bank's robust portfolio, which includes corporate banking, wealth management, and trade finance. This expansion underscores Standard Chartered's commitment to innovation and leadership in the growing digital finance ecosystem.
Laurent Marochini, appointed as CEO of the new Luxembourg entity, brings extensive experience to the role, having previously served as Head of Innovation at Société Générale. Commenting on his new position, Marochini stated: “Joining Standard Chartered Luxembourg as CEO is an honor. I am dedicated to driving excellence and delivering value to our clients and stakeholders in this transformative space.”
Luxembourg's regulatory stability and strategic location within the EU position it as a pivotal hub for Standard Chartered’s digital asset operations. The launch reinforces the bank’s role in advancing secure and compliant solutions that address the needs of an evolving financial landscape.
This development marks a significant milestone in Standard Chartered’s efforts to bridge traditional banking services with emerging digital technologies, strengthening its position as a leader in the digital asset domain.
