Standard Chartered has strengthened its presence in the cryptocurrency industry by launching a new entity in Luxembourg, a move aligned with the European Union’s Markets in Crypto Assets (MiCA) regulation. This initiative marks a significant milestone in providing institutional clients with secure crypto custody services, following successful ventures in the UAE and Hong Kong.

• Standard Chartered's latest move into Luxembourg signals its growing commitment to cryptocurrency innovation in Europe.
• The new entity will cater to the EU market, leveraging MiCA’s regulatory framework for enhanced transparency.
• The initiative complements the bank’s global crypto custody operations, including Zodia Custody and Zodia Markets.

Standard Chartered, a prominent British multinational bank, has officially established a new entity in Luxembourg to expand its crypto custody services across the European Union. This marks the bank’s first major venture under the MiCA regulatory framework, emphasizing its dedication to supporting institutional clients with secure access to the digital asset ecosystem.

Leading the Luxembourg branch is Laurent Marochini, a seasoned executive who previously served as head of innovation at Société Générale. Laurent Marochini expressed excitement about the new role and reaffirmed his commitment to delivering exceptional services for clients and stakeholders.

Stablecoins are revolutionizing the cryptocurrency market by offering stability, efficiency, and new opportunities in DeFi solutions and decentralized networks. By integrating MiCA-compliant services, Standard Chartered is poised to harness the potential of stablecoins, driving innovation in digital asset ecosystems and enabling seamless cross-border transactions.

This move aligns with broader industry trends, including Oddo's recent entry into stablecoin development and Tether's partnership with Quantoz to launch MiCA-compliant stablecoins. These initiatives highlight the growing institutional focus on stablecoin innovation within Europe's regulatory framework.

This expansion follows Standard Chartered’s successful rollout of similar crypto services in the UAE. The bank is also exploring innovative stablecoin initiatives, such as its participation in Hong Kong’s stablecoin development company sandbox, showcasing its strategic approach to cryptocurrency adoption globally.

Expert Opinions and Quotes

Laurent Marochini, CEO of the Luxembourg entity: “This opportunity allows us to redefine digital asset services in Europe, setting new standards for innovation and security.” - Source

Margaret Harwood-Jones, global head of financing & securities services, Standard Chartered: “We are really excited to be able to offer our digital asset custody services to the E.U. region,” - Source

FAQs

How will Standard Chartered’s Luxembourg entity benefit institutional clients?
The entity will provide secure crypto custody services, helping clients navigate the evolving regulatory landscape while offering access to a trusted digital asset ecosystem.

What are the implications of this move for the European crypto market?
Standard Chartered’s entry into Luxembourg under MiCA regulation highlights the growing institutional adoption of crypto, innovations in blockchain development therefore paving the way for increased trust and innovation in the market.

What role does stablecoin innovation play in Standard Chartered’s strategy?
Stablecoin initiatives, such as those in Hong Kong’s sandbox, showcase the bank’s focus on integrating innovative digital currencies into its services, offering stability and investing in the future of cryptocurrency in the region.