Standard Chartered Bank has obtained a digital asset license in Luxembourg and launched encryption custody services in Europe.

Banking giant Standard Chartered Bank recently announced that it has obtained a digital asset license in Luxembourg, officially entering the European encryption market, and first launching BTC and Ethercoin custody services, with plans to expand globally, creating new opportunities for the integration of traditional finance and digital assets.

Standard Chartered obtains Luxembourg license and establishes a new entity

As part of its global digital asset strategy, Standard Chartered Bank recently announced that it has obtained a digital asset license in Luxembourg and established a new entity locally to meet the growing demand from its clients for secure and regulated encryption coin services.

It is worth mentioning that, as a member of the European Union, Standard Chartered's move must also comply with the new encryption asset market regulations (MiCA) framework of the European Union, which sets an example for the legal operation of encryption coins and digital asset custody services.

(Due to the shrinking market value of USDT caused by the implementation of MiCA, Tether chooses to invest instead of sacrificing returns to indirectly participate in the European market)

To this end, Standard Chartered Bank has appointed Laurent Marochini, former head of the start-up department at Société Générale, as CEO of its entity in Luxembourg, providing strong support for Standard Chartered's entry into the encryption coin market in the European Union.

I am honored to join the leading international bank Standard Chartered Bank Luxembourg as CEO, and will be fully committed to providing excellent service to our clients, teams, and stakeholders.

It is reported that Luxembourg is also considered one of the countries interested in the BTC spot ETF frenzy that became an international focus at the beginning of last year.

Mainly provides custody services, does not offer trading

According to Waqar Chaudry, Head of Digital Assets at Standard Chartered Bank, the business will primarily focus on Bitcoin (BTC) and Ether (ETH), and plans to incorporate more assets within this year. At the same time, the company currently only provides digital asset custody services, excluding trading functionality.

Last September, Standard Chartered Bank just launched encryption custodial services in the UAE, focusing on the custody of BTC and ETH; at that time, the CEO of the bank, Bill Winters, expressed strong optimism about this.

Digital assets are not just a passing trend, but a fundamental transformation of the financial structure.

Standard Chartered accelerates its global encryption market layout

As a supporter of the digital asset custody institution Zodia Custody, the trading department Zodia Markets, and the real-world asset (RWA) tokenization platform Libeara, Standard Chartered Bank has always been committed to exploring the fields of custody, settlement, and tokenization in the encryption sector.

(Blockchain settlement company Partior, owned by JPMorgan Chase and Standard Chartered, completes $60 million in financing)

Previously, it was reported in June last year that there were plans to launch a trading platform for BTC and Ethercoin, but there have been no results so far.

Margaret Harwood-Jones, Global Head of Financing Services at Standard Chartered Bank, said in a statement:

We are pleased to provide digital asset custody services for the EU region, which is an innovative product that changes the traditional financial landscape.

As regulatory frameworks such as MiCA and other encryption gradually take shape, Standard Chartered Bank continues to lay out its international presence, demonstrating its close attention and long-term planning for the encryption market, poised to become a significant participant in the European digital asset custody sector.

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