Standard Chartered has announced the launch of a new entity offering crypto and digital asset custody services for clients in the European Union. This development follows the bank's previous introduction of digital asset custody services in the United Arab Emirates. The new service, based in Luxembourg, aims to meet the growing demand for secure digital asset storage, an area that has raised concerns among potential investors due to its complexity. Margaret Harwood-Jones, the bank's Global Head of Financing and Securities Services, emphasized the importance of providing a secure and regulated service to support clients as the landscape of traditional finance evolves. Standard Chartered appointed Laurent Marochini as the CEO of this Luxembourg entity, which will operate under the EU's stringent regulatory framework for digital assets.

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