Standard Chartered Joins the Fray... Europe's Crypto License War, Who Will Be the Final Winner?

▲ Standard Chartered, Europe, Cryptocurrency Regulation/AI Generated Image

Standard Chartered has secured a license under the European Union's crypto-asset market regulation (MiCA). Immediately after the end of the transitional period, the European crypto market accepted 37 new operators, entering into full-scale license competition.

According to crypto-specialized media BeInCrypto on July 3 (local time), the European Securities and Markets Authority (ESMA) has added 37 new crypto companies to its latest registry. As a result, the number of authorized crypto-asset service providers (CASPs) within the European Union has increased to 280.

This expansion of registrations is the first large-scale authorization wave immediately following the end of MiCA's transitional period on July 1. Companies operating under existing national regulations will no longer be able to serve EU customers if they fail to meet the requirements by the deadline. The media reported that this registry update reflects the industry's rush for licenses ahead of the deadline.

By country, Germany led with 57 authorized entities. France recorded 31, and the Netherlands 26. Malta and Cyprus each registered 20 companies. Germany secured the largest authorization base, having already licensed crypto custody providers through its Federal Financial Supervisory Authority (BaFin) even before MiCA's implementation.

Standard Chartered, through Standard Chartered Luxembourg S.A., simultaneously secured MiCA authorization and an Electronic Money Institution (EMI) license. This entity was established to enter the EU digital asset custody business in 2025. Previously, it could only operate within Luxembourg under the national virtual asset service provider framework of the Luxembourg Financial Sector Supervisory Commission (CSSF).

With the MiCA authorization, Standard Chartered can now pursue a phased expansion of its services across the entire European Union. Laurent Marochini, CEO of Standard Chartered Luxembourg, stated, “We are delighted to have obtained MiCA and EMI licenses, enabling us to progressively expand our services to clients across Europe.” He explained that this authorization is a result of strategically choosing Luxembourg.

However, views on the banking sector's entry into cryptocurrency are mixed. X (formerly Twitter) user Lingersj claimed that Standard Chartered treated crypto-earning customers as a risk group while expanding its Web3 business. BeInCrypto reported that it could not independently verify the claims of account closures. While banks are expanding their business rights to European crypto operators, individual customer risk policies remain a market issue.

[Article Summary]

-Standard Chartered secured MiCA authorization and an EMI license through its Luxembourg entity.

-ESMA added 37 companies to its latest registry, increasing the number of authorized crypto-asset service providers in the EU to 280.

-Germany led with 57 authorized entities, and after the end of the MiCA transitional period, the European crypto market entered full-scale license competition.

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