The post Standard Chartered To Launch Crypto Services In Europe appeared on BitcoinEthereumNews.com.

Banking giant Standard Chartered is launching crypto services in Europe after obtaining a digital asset license in Luxembourg under the MiCA regulatory framework.  The banking giant announced it is establishing a new entity in Luxembourg, which will act as its European Union regulatory entry point, allowing it to offer crypto and digital asset custody services.  Standard Chartered To Debut Crypto Custody Services In EU  In a significant development, Standard Chartered is set to launch Bitcoin and crypto custody services in the European Union after acquiring a license in Luxembourg. The bank released a statement that it had established a new entity in Luxembourg to act as its European Union regulatory entry point. The move comes after the European Union implemented the Markets in Crypto Assets (MiCA) Regulation, a significant regulatory framework for crypto. The move attempts to cash in on the growing popularity of digital assets.  “JUST IN: $870 billion asset manager Standard Chartered to offer Bitcoin & crypto custody services in Europe.” Laurent Marochini, the former head of innovation at French financial conglomerate Société Générale, will be the Luxembourg entity’s CEO.  Only Custody Services  Standard Chartered’s crypto offering will initially be limited to Bitcoin (BTC) and Ethereum (ETH). However, it will be adding more assets to its offering as the year progresses, according to Waqar Chaudry, head of digital assets at Standard Chartered. Additionally, Standard Chartered’s crypto products in the EU will only feature custody services and not trading.  “We are not offering trading through Luxembourg; there is no clear timeline as that is not planned for the moment.” Chaudry added the custody comes from within Standard Chartered, with a significant risk capital and balance sheet. Standard Chartered is the only global bank in the custody space. Standard Chartered and other institutions are exploring different avenues to enter the…

---

Filed under: News - @ January 12, 2025 12:15 am