Standard Chartered Brings Elite Crypto Custody to Luxembourg, Fuels EU Expansion

Crypto Custody Takes Center Stage as Standard Chartered Expands to Luxembourg

Standard Chartered, a leading international banking group with a significant presence across Asia, Africa, and the Middle East, has announced the establishment of a new entity in Luxembourg. This initiative aims to provide crypto and digital asset custody services across the European Union (EU), aligning with the Markets in Crypto Assets (MiCA) Regulation, which offers a harmonized framework for digital assets within the EU.

The bank’s statement on Friday underscored the strategic importance of this expansion:

"The opening of the business in Luxembourg is part of Standard Chartered’s global digital asset strategy, enabling broadening of its digital asset portfolio."

Regulatory Stability as a Strategic Advantage

This move follows the recent introduction of digital asset custody services in the United Arab Emirates (UAE). Luxembourg’s stable regulatory and financial environment makes it an ideal base for Standard Chartered’s EU operations, addressing the increasing demand for secure and compliant digital asset solutions.

Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, emphasized:

"We are really 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."

Leadership and Vision

Laurent Marochini has been appointed as CEO of the Luxembourg entity. Previously the Head of Innovation at Société Générale, Marochini brings extensive experience and expertise to this new role. He shared his vision for the initiative:

"It is an honour to join the leading international bank, Standard Chartered Luxembourg, as CEO. I am fully committed to delivering excellence for our clients, team, and stakeholders."

Pioneering the Digital Asset Ecosystem

Standard Chartered’s expansion into Luxembourg highlights its dedication to innovation and its strategic commitment to digital assets. By leveraging Luxembourg’s regulatory stability, the bank aims to expand its offerings and strengthen its position in the growing digital asset ecosystem across the EU.

This initiative marks another step in bridging the gap between traditional finance and the rapidly evolving digital asset industry, setting a global benchmark for secure and regulated crypto custody services.