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Standard Chartered complies with MiCA: new services on Bitcoin
By Davide Grammatica
The giant Standard Chartered launches new crypto services in the EU with a new MiCA-compliant license, starting with Bitcoin custody
Standard Chartered in the EU
Banking giant Standard Chartered has obtained a new license in Luxembourg to offer services related to digital assets. The bank thus becomes MiCA compliant, and will be able to offer in full regulatory compliance new services related to cryptocurrencies, starting with Bitcoin custody.
Following the official entry into force of Markets in Crypto-Assets, the European crypto landscape is quickly adapting to the new rules (not only exchanges, but also traditional banks). Heading Standard Chartered’s Luxembourg entity will be Laurent Marochini, former head of innovation at Société Générale.
For the time being, Standard Chartered’s offering will be limited to Bitcoin, but other assets will be made available during 2025. Products, likewise, will be limited to custody, and trading will not be available.
“We are not offering trading,” said Waqar Chaudry, head of digital assets at the bank. “And there is no clear timeline for this service as it is not yet planned.”
Expanding into the world of Bitcoin products
The banking giant’s services are narrow, but they are part of a global expansion policy. Prior to Europe, in fact, Standard Chartered had already expanded its crypto services to the United Arab Emirates, in September 2024.
Institutional clients will thus be able to rely on these services globally, and it is not ruled out that their numbers may grow in the future. Just last June, for example, some rumors suggested that Standard Chartered was planning (as early as 2021) to launch a crypto trading exchange, demonstrating that of the bank’s long-term strategy.
