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 Markets in Crypto-Assets (MiCA) regulation. The European cryptocurrency market has entered into a full-scale licensing race, welcoming 37 new operators immediately after the transitional period ended.

According to crypto media outlet BeInCrypto on July 3 (local time), the European Securities and Markets Authority (ESMA) has added 37 new crypto firms 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 marks the first large-scale authorization wave immediately following the end of the MiCA transitional period on July 1. Firms operating under existing national regulations will not be able to continue serving EU customers if they fail to meet the requirements by the deadline. The outlet reported that this registry update reflects the industry's rush for authorization ahead of the deadline.

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

Standard Chartered has simultaneously secured a MiCA authorization and an Electronic Money Institution (EMI) license through Standard Chartered Luxembourg S.A. This entity was established to enter the EU's 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 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 pleased to have obtained MiCA and EMI licenses, enabling us to progressively expand our services to customers across Europe.” He explained that this authorization is a result of Luxembourg being a strategic choice.

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

[Article Summary]

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

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

-Germany led with 57 authorized firms, and the European crypto market entered a full-scale licensing race after the MiCA transitional period ended.

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