Standard Chartered Obtains MiCA License, 37 Firms Added by ESMA

Standard Chartered has successfully acquired its MiCA license, joining a total of 37 new firms listed in the latest register update from the European Securities and Markets Authority (ESMA). This brings the total number of licensed crypto-asset service providers (CASPs) in the European Union to 280.

First Major Licensing Update Post-MiCA Transition

This update marks the first significant wave of licensing since the transitional period for MiCA ended on July 1. Firms that failed to secure MiCA licenses before this deadline can no longer operate under their previous national frameworks. ESMA updates its interim register weekly, and the current update reflects the rush of firms aiming to comply with the new regulations.

Among the newly authorized firms are crypto-native entities like the US-based prime broker FalconX and Sygnum Europe, which have successfully obtained CASP status. Notably, traditional financial players are also entering the space, with Crédit Agricole’s CACEIS recognized as an e-money token issuer.

Standard Chartered’s Strategic Move

Standard Chartered announced its MiCA authorization along with an Electronic Money Institution (EMI) license through Standard Chartered Luxembourg S.A., established in 2025 to expand its digital asset custody offerings into the European market. Previously, the bank operated under a national virtual asset service provider regime limited to Luxembourg. The new MiCA status allows Standard Chartered to increase its services across Europe, though further approvals are needed for full passporting.

Laurent Marochini, CEO of Standard Chartered Luxembourg, expressed enthusiasm regarding the acquisition of both licenses, indicating plans for a phased expansion of services throughout Europe. This license marks a significant strategic move for the bank.

Luxembourg’s Role as MiCA Hub

Luxembourg is emerging as a key gateway for MiCA licenses, with several firms, including Coinbase and Ripple, having secured licenses in the region. This trend reinforces the country’s position as a favorable location for crypto service providers.

Mixed Reactions from the Community

Despite the optimistic outlook for Standard Chartered, not all feedback from the crypto community is positive. While some users have praised the bank's commitment to Web3 development, others have raised concerns about discrepancies in how the bank serves its crypto-earning customers. Reports have surfaced of accounts being closed for income derived from crypto activities, sparking discussions on the bank's policies.