The bank announced on the 9th of January 2025 that it is establishing a new entity in Luxembourg, to act as its European Union regulatory entry point for delivering secure crypto and digital asset custody solutions.
The new initiative comes after the implementation of the Markets in Crypto-Assets (MiCA) Regulation, a major crypto regulatory framework in the region of the EU. In addition, the financial institution will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to officials of the company, Standard Chartered’s crypto offering in the EU will be limited to Bitcoin (BTC) and Ether (ETH) at the beginning of the launch, with more assets coming later in 2025. In addition, Standard Chartered’s crypto products in the EU will also exclusively feature crypto custody or the solution for storing and protecting digital assets on behalf of their owners. The custody will come from within Standard Chartered, with a significant risk capital and balance sheet as well.
At the same time, the launch represents a part of Standard Chartered’s broader digital asset strategy that is aimed at expanding its crypto custody offerings for customers and partners around the world. The new services are expected to adhere to high-security standards, as a regulated entity in the region of Europe.
The company has been exploring opportunities to provide crypto trading services long before, with plans to launch in Europe being set back in 2021. In the same year, Standard Chartered also joined an alliance of fintech companies and banks that aimed to accelerate the adoption of best practices in crypto.
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