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Standard Chartered, which expects $200,000 in Bitcoin, made a new move!
British banking giant Standard Chartered made a big move while there is high volatility in Bitcoin (BTC) and altcoins in recent days.
Following the MiCA law, which came into effect with the new year in the European Union, Standard Chartered announced that it will offer cryptocurrency services in the EU in response to increasing customer demand.
Accordingly, Standard Chartered said that it has established a new legal entity in Luxembourg to provide cryptocurrency and digital asset custody services and has entered the EU market.
Laurent Marochini, former innovation chief of French financial giant Société Générale, will serve as CEO of Standard Chartered's Luxembourg unit.
Standard Chartered's cryptocurrency service in the EU will initially be limited to Bitcoin. However, the bank's Head of Digital Assets, Waqar Chaudry, said that more cryptocurrencies like Ethereum (ETH) will be added by the end of 2025.
It was also stated that Standard Chartered's cryptocurrency service in the EU will only include custody of cryptocurrencies or custody and protection services on behalf of digital asset owners.