If you’ve been following Europe’s crypto scene, you may be interested in a major bank getting more serious about digital assets. Now, Standard Chartered has opened a new branch in Luxembourg — with an eye towards taking on crypto custody for customers of the entire European Union. The expansion comes on the heels of newly adopted MiCA rules in the region, which detail the ground game for firms looking to play in the digital asset space.
Initially, the plan from the bank focuses on Bitcoin and Ether custody. Rumor has it that further tokens may be added later in 2025, but currently, trading services cannot be offered in Luxembourg. One reason for this limited offering is the choice of the bank to concentrate on secure storage, supported by its own funds. The move mirrors earlier steps taken by Standard Chartered in the UAE, where it launched custody for BTC and ETH in 202
Topping the list in Luxembourg is CEO Laurent Marochini, who handled innovation for another leading financial group. He said, “It is an honour to join the leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence for our clients, team and stakeholders.”
If you’re wondering how this all came to be, it didn’t happen overnight. Standard Chartered has been researching crypto for the past couple of years. There’s also been talk about setting up a new crypto trading desk out of London, perhaps in its foreign exchange unit.
The bank’s senior management says it wants to satisfy the rising institutional demand for tokens. They believe this is a natural evolution in finance, particularly with global frameworks on the horizon. Global Head of Financing & Securities Services head Margaret Harwood-Jones:
“We are really excited to be able to offer our digital asset custody services to the EU region, enabling us to support our clients with a product that is changing the landscape of traditional finance, whilst also providing the level of security that comes with being an appropriately regulated entity. We are incredibly proud to be paving the way for our institutional clients to access the digital asset ecosystem.”
Standard Chartered also joined an alliance of fintech names and banks pushing for sound practices in crypto, indicating that the new entity in Luxembourg is just one part of a wider vision. It’s an important development for anyone tracking the broader trends in banking and digital assets.
