In a bold move that many in the financial world are buzzing about, Standard Chartered has just announced the launch of a new entity in Luxembourg, gearing up to dip its toes into the ever-expanding pool of crypto and digital asset custody services. With a sharp focus on Bitcoin (BTC) and Ethereum (ETH)—the rockstars of the crypto realm—this venture aims to cater to the growing demand from clients across the European Union (EU). So, what does this mean for the future of traditional banking and the digital asset ecosystem? Are we witnessing the dawn of a new era where digital assets meld seamlessly into the fabric of conventional finance? One thing’s for sure, it’s a fascinating journey unfolding before our eyes! LEARN MORE.
Standard Chartered has announced the launch of a new entity in Luxembourg to serve as its regulatory entry point for providing crypto and digital asset custody services to clients within the European Union (EU).
The multinational bank’s initial crypto services in the region will focus exclusively on Bitcoin (BTC) and Ethereum (ETH), with plans to expand to additional assets later in 2025.
Luxembourg Launch
According to the official press release, the Luxembourg entity leverages the country’s balanced regulatory and financial environment to meet growing client demand in the EU. Meanwhile, Laurent Marochini has been appointed CEO of the new entity. Interestingly, Marochini was the former Head of Innovation at Société Générale.
Commenting on the new entity, Margaret Harwood-Jones, Global Head of Financing & Securities Services, at Standard Chartered, said,
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