Standard Chartered secured a license in Luxembourg to provide digital asset custody services across the EU, marking a significant step under the MiCA regulations. This development bolsters the bank’s presence in the European crypto market, reinforcing its expanding role within this rapidly evolving sector.

The appointment of Laurent Marochini to lead the new Luxembourg entity underscores the bank’s strategic focus on enhancing its crypto service offerings. Marochini’s previous experience at Société Générale positions him well to advance Standard Chartered’s ambitions in the European crypto landscape.

The MiCA framework is facilitating increased crypto adoption across Europe, prompting numerous companies to seek compliance and operational licenses. Standard Chartered’s move represents a strategic alignment with this trend, aiming to capitalize on regulatory developments to expand its digital asset services in the EU.