The post Standard Chartered Launches Digital Custody in Luxembourg appeared on BitcoinEthereumNews.com.

Standard Chartered is set to broaden its horizons by launching a new entity in Luxembourg, following its recent approval to offer digital asset custody services within the European Union. This strategic move aligns with the bank’s efforts to keep pace with evolving regulatory frameworks in Europe’s digital markets, underlining its dedication to compliance and security. How Will Regulatory Changes Impact Operations?Who Is Leading the New Entity? How Will Regulatory Changes Impact Operations? The establishment of this new entity is a response to the complex regulations surrounding digital assets. By offering cryptocurrencies and digital custody services under the MiCA directives, Standard Chartered is ensuring that it meets the stringent European standards. Who Is Leading the New Entity? At the helm of this new Luxembourg initiative is Laurent Marochini, previously the head of innovation at Société Générale. His rich background in digital assets positions him well to spearhead the bank’s advancements in this burgeoning sector. In September, Standard Chartered initiated digital asset custody services in the UAE, obtaining the go-ahead from the Dubai Financial Services Authority. The first client for these services, hedge fund Brevan Howard Digital, will begin with Bitcoin and Ethereum support. Margaret Harwood-Jones, Head of Global Financing and Securities Services, conveyed enthusiasm about entering the EU market, reaffirming the bank’s pledge to deliver a secure and regulated environment for its clientele. New entity established in Luxembourg for digital asset custody. Compliance with MiCA regulations to ensure security and trust. Laurent Marochini appointed as CEO for expert leadership. Recent expansion into the UAE highlights the bank’s growing global reach. Commitment to regulated services strengthens client confidence. This initiative by Standard Chartered not only enhances its position in the financial technology arena but is also poised to simplify access to the digital asset landscape throughout Europe. As the bank continues to…

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Filed under: News - @ January 11, 2025 11:27 pm