Standard Chartered has expanded its crypto custody services in Luxembourg to meet the increasing demand for secure digital asset management in the European Union.
Standard Chartered has launched a new entity in Luxembourg to solidify its position in the European crypto custody market. This move aligns with the recently enacted Markets in Crypto Assets (MiCA) regulation, ensuring compliance and security for institutional clients.
Laurent Marochini, a seasoned professional with experience in the innovation sector, will lead the new entity. Standard Chartered's involvement in the crypto space extends beyond custody services. The bank holds an optimistic outlook on Bitcoin's future and is exploring opportunities in stablecoins.
Standard Chartered has actively engaged with regulatory frameworks such as Hong Kong's stablecoin issuer sandbox and China's Digital Yuan Pilot. By adhering to these guidelines, the bank ensures the security and compliance of its operations, building trust with institutional clients.
Standard Chartered's strategic initiatives reflect a broader trend among traditional financial institutions to embrace cryptocurrencies and blockchain technology. With a strong leadership team and a clear vision, the bank is well-positioned to shape the future of crypto custody services in Europe and beyond.