Standard Chartered, a global bank, has announced plans to launch crypto services in Europe. This will allow it to offer its services throughout the European Union (EU) region.
Standard Chartered plans to set up an operation in Luxembourg, from where it would offer its crypto services across the EU.
Standard Chartered Launches EU Digital Asset Custody
Reacting to the launch, Standard Chartered Global Head of Financing and Securities Services Margaret Harwood-Jones said in a statement, “We are excited to be able to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is changing the landscape of traditional finance whilst also providing the level of security that comes with being an appropriately regulated entity.”
Today: Standard Chartered, a major global bank, announced it is launching digital asset custody in Europe.
Banks are entering the room.
2025 will be the year several traditional banks launch crypto services. pic.twitter.com/O7c4rBZ0yu
— Hunter Horsley (@HHorsley) January 9, 2025
The bank noted that the new service will meet the growing need within the EU. Furthermore, the British bank said it had appointed Laurent Marochini, a former employee at Societe Generale Securities Services, as the CEO of its Luxembourg operations. he said: “It is an honor to join the leading international bank, Standard Chartered Luxembourg, as CEO. I am fully committed to delivering excellence for our clients, team, and stakeholders,” Marochini said in a statement.
Comply with EU Policies
The bank also expressed plans to comply with EU policies. Reports suggest that Standard Chartered’s interest in providing crypto custody services has been in the works since 2021.
JUST IN: $800 billion Standard Chartered bank launches #Bitcoin and crypto custody service in the UAE 🇦🇪 pic.twitter.com/dlNqdVpi0J
— Bitcoin Magazine (@BitcoinMagazine) September 10, 2024
The news comes after the multinational bank debuted digital asset custody services in the United Arab Emirates (UAE). Standard Chartered has also made its entrance into the crypto Spot trading market, launching both Bitcoin and Ethereum desks. Many crypto companies are turning their attention to Europe as the MiCA framework is expected to make operations easier.
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