Standard Chartered Bank Starts Serviceing Crypto Services In Europe

Standard Chartered presents crypto services. (Photo; Doc. CoinSeilcrypto)

JAKARTA - Standard Chartered, a large British bank, recently obtained a license at Luxembourg to provide crypto asset custodies throughout the European Union. This license is part of the bank's efforts to expand its crypto services under the newly implemented Markets in Crypto-Assets (MiCA) regulations. This regulation aims to unify crypto rules across EU member countries.

Through this license, Standard Chartered can enter the EU market regularly through Luxembourg-based entities. This move allows banks to offer safe crypto asset custodial services for institutional clients in the region.

Margaret Harwood-Jones, Head of Global Financing at Standard Chartered, welcomed this development, stating that the new service combines innovation with security from recognized banking regulations.

Laurent Marochini, who previously worked at the Société Gerneurale, will lead this Luxembourg-based entity. The establishment of this entity also marks the next step in Standard Chartered's global strategy to expand digital asset services. In September, the bank also launched a similar service in the UAE, further strengthening its position as a global player in the digital financial sector.

Last year, Standard Chartered has been actively developing crypto-related services. In October, they teamed up with the OKX crypto exchange to introduce new security standards for institutional clients, with Standard Chartered acting as OKX's third-party crypto custodian.

In June, the bank also reportedly opened trading desks for Bitcoin and Ethereum, making it one of the first global banks to dive into spot crypto trading.

Not only that, Standard Chartered is also investing heavily in crypto-related subsidiaries, such as Custodies and tendows Markets, which focus on over-the-counter custodies and trading for institutional clients. In November 2024, the bank launched its blockchain unit, Libeara, which further strengthens its commitment to digital assets and blockchain.

The implementation of the recently implemented MiCA framework encourages more and more companies to apply for compliance in order to take advantage of Europe's more structured regulatory landscape. For example, MoonPay became one of the first international companies to receive MiCA licenses in the Netherlands, followed by other companies such as BitState and Socios.com, which can now operate as a regular virtual asset provider in Europe.