Standard Chartered has opened a new Luxembourg entity after obtaining the approval to provide digital asset custody in the European Union.
The 45th largest bank in the worldin a press release said that the entity would serve as the regulatory entry point to offer crypto and digital assets custody services in the EU after the implementation of Markets in Crypto Assets Regulation (MiCA).
Margaret Harwood Jones, Standard Chartered’s Global Head of Financing and Securities Services,
We are very excited about being able to provide our digital asset custodial services in the EU. This will allow us to help our clients by offering a product which is changing traditional finance and also provides the security of an entity that has been appropriately regulated. “We are extremely proud of paving the path for our institution clients to gain access to the digital assets ecosystem.”
Laurent Marochini was previously the head of Innovation at European Banking Giant Societe Generale. He has been appointed as CEO of Luxembourg’s entity.
Standard Chartered launched in September its Digital Asset Custody Service for theUnited Arab Emirates , after receiving approval from the Dubai Financial Services Authority.
Brevan Howard Digital is the first client for the new service. It will initially support Bitcoin (BTC), Ethereum (ETH), and other digital assets.
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The post Standard Chartered Gets Greenlight to Offer Crypto Custody Services In the European Union can be updated as new information becomes available.
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