The establishment of the Luxembourg entity follows Standard Chartered’s recent launch of digital asset custody services in the United Arab Emirates (UAE).
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The London-based trading desk will soon commence operations and will integrate with the bank’s existing foreign exchange (FX) trading unit.
“Our Digital Asset Joint Venture plans to make strategic and minority investments in areas such as market infrastructure, risk management and compliance tools, DeFi, tokenisation, consumer payments, and the Metaverse,” states SC Ventures CEO, Alex Manson.