Standard Chartered Obtains Luxembourg License Under MiCA
British banking giant Standard Chartered announced today that it has obtained a license to provide digital asset custody services in Luxembourg.
Previously, the bank obtained a digital asset license under the newly enacted Market in Crypto-Assets (MiCA) framework, which provides harmonized crypto regulations across the European Union.
EU entry points
in recent news reports releaseStandard Chartered Bank announced the establishment of a new entity in Luxembourg. This entity will serve as the bank’s regulatory entry point within the EU, enabling it to provide Cryptocurrency custody services For customers across the region.
“We are extremely pleased to be able to offer our digital asset custody services to the EU region, allowing us to support our clients with products that are changing the traditional financial landscape, while also providing Safety Margaret Harwood-Jones, global head of finance at Standard Chartered Bank, said:
Laurent Marochini, former head of innovation at Societe Generale, will lead Standard Chartered’s new Luxembourg entity. The establishment of the new entity in Luxembourg represents a step forward in Standard Chartered’s global strategy to expand digital asset custody services.
The bank also successfully launched these services in the UAE back in September. Overall, Standard Chartered has increasingly embraced crypto services and developments over the past year.
In October last year, the bank Partnering with cryptocurrency exchange OKX Introducing new safety standards. As part of the partnership, OKX claims that Standard Chartered will become the exchange’s new third-party cryptocurrency custodian for institutional clients.
In June, it was reported that Standard Chartered Bank Set up Bitcoin and Ethereum trading deskmaking it one of the first global banks to enter spot cryptocurrency trading.
“Today, major global bank Standard Chartered announced it will launch digital asset custody services in Europe. Banks are getting into the room. 2025 will be the year when multiple traditional banks launch crypto services.” wrote Hunter Horsley, CEO of Bitwise.
The bank has also made significant investments in its brokerage business Zodia Hosting and Zodia Marketplace. The two companies provide services such as custody and over-the-counter trading to institutional clients.
Additionally, in November 2024, Standard Chartered launched its blockchain arm Libeara.
More companies are seeking MiCA compliance
The EU has long awaited mica frame It just came into effect 10 days ago. It seems that there are more and more companies now seek compliance with this provision Expand its operations into the cryptocurrency market across the EU.
monthly payment One of the earliest international companies Obtain this license in the Netherlands January. Soon after, three other cryptocurrency firms, including Dutch asset manager BitStaete, followed suit.
Socios.com also announced the approval of the MiCA license by the Malta Financial Services Authority (MFSA). This designation allows the fan engagement platform to operate as a regulated virtual financial asset provider.
Bitget also recently announced Regional Center in Lithuania Ensure MiCA is compliant and strengthen its European presence.
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