Standard Chartered To Launch Crypto Services In Europe
The news is that Standard Chartered, a major international bank, has launched crypto services in Europe. They have established a new entity in Luxembourg to act as their regulatory entry point for offering secure crypto and digital asset custody solutions to European Union clients. This move comes after the implementation of the Markets in Crypto-Assets (MiCA) Regulation, a significant regulatory framework in the EU.
Standard Chartered has been exploring opportunities to provide crypto trading services for some time, with plans to launch in Europe being set back in 2021. In the same year, they also joined an alliance of fintech companies and banks aimed at accelerating the adoption of best practices in crypto.
The launch of crypto services in Europe by Standard Chartered is a significant development, as it signals the growing acceptance of cryptocurrencies by major financial institutions. It also highlights the importance of the MiCA Regulation in providing a clear regulatory framework for the crypto market in Europe.