According to Waqar Chaudry, Head of Digital Assets, Financing & Securities Services, Luxembourg presented several compelling reasons that guided Standard Chartered’s choice to develop this new activity within the European Union. « Given the robust and forward-looking approach of the regulator as well as the ability to work with the thriving digital assets players on the ground, not to mention the excellent talent, it made it a great choice for Standard Chartered to bring its custody offering in the EU via Luxembourg. »
Laurent Marochini, formerly Head of Innovation at Société Générale Luxembourg, now serves as CEO of the new Luxembourg entity. Currently operating with a VASP license, the entity plans to secure a CASP license under MiCA to broaden its crypto-asset services for EU clients
By establishing this new entity in Luxembourg under MiCA’s framework, Standard Chartered not only signals the growing institutional adoption of crypto-assets but also highlights Europe’s potential to become a global leader in digital finance.