Standard Chartered reports or industry analysis

Standard Chartered Launches Bitcoin and Crypto Custody Services in EU via Luxembourg, Managing $870 Billion Assets

Jan 9, 2025, 03:00 PM

Standard Chartered has announced the launch of cryptocurrency custody services, including Bitcoin custody, in the European Union through a newly established entity in Luxembourg. The bank, which manages $870 billion in assets and $135 billion in assets under management (AUM), has obtained a license under the EU's Markets in Crypto-Assets (MiCA) framework, enabling it to provide secure and regulated digital asset custody services across the bloc. This strategic move positions Luxembourg as a key entry point for Standard Chartered into the European crypto market. The initiative reflects growing institutional interest in digital assets and aligns with the bank's broader efforts to expand its presence in the cryptocurrency sector, following similar initiatives in the United Arab Emirates. Laurent Marochini, formerly of Société Générale, will lead the Luxembourg operations.