Standard Chartered has announced the establishment of a new entity in Luxembourg, which will serve as its regulatory entry point for providing crypto and digital asset custody services to clients within the European Union. This move follows the implementation of the Markets in Crypto Assets (MiCA) Regulation.
The initiative is part of Standard Chartered's broader strategy to expand its digital asset portfolio globally. The bank recently launched similar services in the UAE and selected Luxembourg due to its balanced regulatory and financial environment, aligning with increasing client demand across Europe.
Laurent Marochini has been appointed as CEO of this new Luxembourg entity. He joins from Société Générale, where he was Head of Innovation, bringing significant experience to his new role.
Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, expressed enthusiasm about this development: “We are really excited to be able to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is changing the landscape of traditional finance, whilst also providing the level of security that comes with being an appropriately regulated entity. We are incredibly proud to be paving the way for our institutional clients to access the digital asset ecosystem.”
Laurent Marochini commented on his appointment: “It is an honour to join the leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence for our clients, team and stakeholders.”
For more information on this development, contact Kate Matthews, Communications Director for Europe at Standard Chartered.