Falling in line with the EU’s Markets in Crypto Assets (MiCA) regulation, the move underlines Standard Chartered’s commitment to scaling its digital asset portfolio to meet the needs, demands, and preferences of its clients. The decision to choose Luxembourg for its new entity can be attributed to the region’s balanced regulatory and financial framework.
The announcement comes days after Standard Chartered launched its crypto services for customers and partners in Europe, with the introduction following the receipt of a digital asset licence under the MiCA framework. Initially, the bank’s crypto offering in the EU was set to be limited to Bitcoin (BTC) and Ether (ETH), with more assets being planned for later in 2025. Also, Standard Chartered’s crypto products were set to exclusively feature crypto custody or the solution for storing and protecting digital assets on behalf of their owners.
Following the launch of digital asset custody services in the UAE, Standard Chartered’s initiative highlights the bank’s strategic drive to assist institutional clients in navigating the ever-evolving landscape of digital finance. Commenting on the news, representatives from Standard Chartered mentioned that the current move allows the bank to support its clients with a product that has the ability to optimise the landscape of traditional finance while also offering the security that comes with being a regulated entity.
Furthermore, the expansion emphasises Standard Chartered’s commitment to improving financial services, with the bank aiming to continue to bridge the gap between traditional and digital finance for its clients worldwide. Additionally, the financial institution set a goal to obtain USD 200 billion in net new money by 2030, as well as reaching a double-digit increase in its Wealth Solutions income.
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