Standard Chartered to Offer Crypto Custody Services in EU

Standard Chartered has established a new entity in Luxembourg to provide cryptocurrency and digital asset custody services in the European Union, in response to the increasing demand for digital security.

Other major financial institutions, including StanChart, are also entering the crypto market as institutional investors adopt these assets.

Recently, the bank launched digital asset custody services in the United Arab Emirates. Laurent Marochini, a former innovation head at Societe Generale, has been appointed as the head of the Luxembourg entity by Standard Chartered.

In March 2023, Zodia Custody, a crypto custodian owned by StanChart, announced that its Irish unit had been registered with Luxembourg’s financial regulator.