Key Points

• Crypto adoption intensifies in Europe, following Standard Chartered’s newly granted license.
• The banking giant announced the opening of its new entity in Luxembourg.

In an official press release, one of the biggest banks in the world, Standard Chartered, announced the opening of a new entity in Luxembourg.

The bank’s new entity will act as its EU regulatory entry point for providing digital assets custody services to European clients, following the MiCA regulation implementation.

A Global Crypto Strategy

This new move of the bank is part of its global crypto strategy to enable the broadening of its portfolio. Standard Chartered’s announcement comes following the bank’s recent launch of crypto custody services in the UAE.

Luxembourg reportedly has a well-balanced regulatory and financial environment to meet the growing client demand in Europe.

The bank appointed Laurent Marochini as the new CEO of the European entity. Marochini comes from Société Générale Bank where he was Head of Innovation.

He will bring huge experience to his new role for European customers, supporting crypto adoption in the region.

Margaret Harwood-Jones, the Global Head of Financing and Securities Services at Standard Chartered released an official statement, stating that the bank is pleased to offer crypto custody services in Europe, enabling them to support clients with products that change the traditional financial landscape.

At the same time, they will provide a high level of security that comes with becoming an appropriately regulated entity, paving the way for their institutional clients to obtain access to the crypto ecosystem.

Marochini also expressed his honor in joining the leading international bank as its Luxembourg entity’s CEO, promising to remain fully committed to delivering excellence to clients, team, and stakeholders.

Top Markets Where Investors See Digital Transformation Opportunities

On January 3rd, Standard Chartered revealed data from survey results from over 400 banks, investment managers, and asset owners based in Europe and the Americas, sharing the top 10 markets where investors see opportunities in digital transformation.

The first spot is taken by Singapore with 74% of respondents seeing very promising transformations in digital investments. India comes next with 71%, followed by Mainland China with 67%.

The expansion of crypto adoption in Europe comes amidst a global wave of unstoppable developments in the crypto industry that fuels the ecosystem with optimism at the beginning of 2025.