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.