Standard Chartered Bank has launched a new entity in Luxembourg to provide cryptocurrency custody services across the European Union under MiCA regulation.

British multinational financial giant Standard Chartered It has launched a new entity in Luxembourg to offer crypto custody services to EU clients as the EU implements markets in crypto assets – also known as... Mika - Systems.

On January 9th press releaseThe Luxembourg office will be part of the bank's global push into cryptocurrencies, the bank said, after launching similar services in the UAE. Laurent Marocchini will lead the Luxembourg entity as CEO, coming from Société Générale, where he was head of innovation, the press release said.

“We are really excited to be able to bring our digital asset custody services to the EU region,” said Margaret Harwood-Jones, Global Head of Finance and Securities Services at Standard Chartered, adding that the bank is proud to help institutional clients access the ecosystem. For digital assets.

"It is a great honor to join leading international bank, Standard Chartered Luxembourg as CEO. I am fully committed to delivering excellence to our clients, team and stakeholders."

Laurent Marocchini

The bank is heavily involved in the cryptocurrency space, with successful projects such as Zodia Custody and Zodia Markets. She also remains bullish on Bitcoin (Bitcoin), Prediction It may rise to $250,000 in the near future. The bank is also exploring stablecoin initiatives, After it was included In Hong Kong's stablecoin issuance sandbox.