Standard Chartered Bank obtains Luxembourg license to provide digital asset custody services

PANews reported on January 9 that Standard Chartered Bank announced that its newly established Luxembourg entity will serve as a regulatory entry into the EU market and provide cryptocurrency and digital asset custody services to EU customers. Luxembourg meets the growing needs of the EU market due to its balanced regulatory and financial environment. Previously, Standard Chartered has launched digital asset custody services in the UAE.

Laurent Marochini, who previously served as head of innovation at Societe Generale, has been appointed CEO of the Luxembourg entity. Standard Chartered said that this move will help its institutional clients enter the digital asset ecosystem and provide strong support for the transformation of traditional finance.