Standard Chartered Enters Europe with Regulated Crypto Services Under MiCA Regulation
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Standard Chartered Expands to Europe with Crypto Services Under MiCA Regulation
In a recent move, Standard Chartered has announced the expansion of its crypto services in Europe under the Markets in Crypto-Assets (MiCA) regulation. The bank has secured a digital asset license in Luxembourg and has established a regulated gateway for institutional clients seeking secure custody of cryptocurrencies.
The initial phase of the service will focus on providing custody solutions for Bitcoin (BTC) and Ether (ETH), with plans to expand its offerings to include additional digital assets by 2025. Standard Chartered’s head of digital assets, Waqar Chaudry, has clarified that trading services are not currently part of their offering, stating, “We are not offering trading through Luxembourg; there is no clear timeline as that is not planned for the moment.”
The move follows the bank’s earlier success in the United Arab Emirates (UAE), where it launched similar crypto custody services in September 2024. The UAE operations provided institutional clients with access to Bitcoin and Ether, further solidifying Standard Chartered’s commitment to catering to this growing market.
As part of its global strategy, the bank is positioning itself as a major player in the digital asset space by prioritizing regulatory compliance and secure infrastructure. Margaret Harwood-Jones, Global Head of Financing at Standard Chartered, emphasized the company’s dedication to these principles, stating that their services meet the evolving needs of institutional clients entering the digital asset market.
This strategic move demonstrates Standard Chartered’s ongoing commitment to the cryptocurrency sector. Previously, reports surfaced about the bank planning to establish a crypto exchange in Europe. Furthermore, it joined an alliance of fintech firms and financial institutions aimed at promoting best practices in the digital asset industry, further underscoring its position as a key player in advancing institutional crypto adoption.
With this new expansion into the European market, Standard Chartered reiterates its dedication to the digital asset space, solidifying its stance as a major participant in the sector.
Source: coinchapter.com
