Standard Chartered has established an entity in Luxembourg, positioning itself as a regulatory gateway to the European Union (EU) for crypto and digital asset custody services.
This development comes in line with the EU’s Markets in Crypto Assets (MiCA) regulation, highlighting the bank’s commitment to expanding its digital asset portfolio to meet growing client demand.
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Luxembourg’s balanced regulatory and financial framework was a key factor in the decision. The move follows the bank’s recent launch of digital asset custody services in the UAE, underlining its strategic push to support institutional clients in navigating the evolving landscape of digital finance.
Moreover, Laurent Marochini, a seasoned financial executive, has been appointed CEO of the Luxembourg entity. Formerly head of innovation at Société Générale, Marochini brings a wealth of expertise to the role.
Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, expressed: “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.”
Marochini shared: “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.”
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By GlobalDataThis expansion underscores Standard Chartered’s dedication to innovation in financial services, as the bank continues to bridge traditional and digital finance for its clients globally.
Furthermore, the bank has set a goal to secure $200bn in net new money over the next five years, while aiming for a double-digit increase in its Wealth Solutions income.
This goal was revealed during the bank’s Affluent Investor Seminar, which also highlighted plans to enhance wealth management capabilities through product innovation and digital client experiences.
The seminar also showcased the bank’s strategy to expand its wealth management capabilities through branch upgrades, focusing on high-value clients.
With a particular emphasis on global Chinese and Indian clients, the bank has transformed flagship client centres in mainland China, Hong Kong, and Singapore into modern experiential hubs.
