OKX, the cryptocurrency exchange and blockchain technology company, has announced Standard Chartered as its chosen third-party custodian for global institutional clients. This move underscores OKX’s commitment to offering enhanced, secure crypto services for institutional investors through trusted custodial solutions.
Secure Custody Solution for Institutional Clients
The partnership allows OKX to strengthen its services for institutional investors with secure custody managed by Standard Chartered. Known for its expertise in cross-border finance, Standard Chartered’s role will add an extra layer of security and risk management to OKX’s existing institutional offerings, which include advanced trading tools and market risk solutions.
UAE Expansion with Full Operating License
OKX recently launched its trading platform for retail and institutional investors in the UAE, following a full operating license granted by the UAE’s Virtual Assets Regulatory Authority. This expansion marks OKX’s dedication to becoming a leading digital asset provider in key global markets.
⚡️ BREAKING: #OKX has partnered with Standard Chartered as a third-party custodian to strengthen its services for institutional clients.#StandardChartered #Blockchain #CryptoNews pic.twitter.com/iBUTf6CckV
— Coin Edition: Your Crypto News Edge ️ (@CoinEdition) October 29, 2024
This partnership aligns with findings from an OKX-commissioned report by Economist Impact, revealing a growing interest among institutional investors in digital assets. According to the report, over 80% of hedge funds engaging in digital assets use third-party custodians, indicating a strong demand for secure, separate custody.
Industry-Leading Security and Compliance
“Standard Chartered’s global banking expertise and strong commitment to security reinforce the confidence of our institutional clients,” stated Lennix Lai, OKX Global Chief Commercial Officer. Margaret Harwood-Jones, Global Head of Financing & Securities Services at Standard Chartered, added that the bank is committed to delivering custodial services that meet high standards of safety and compliance, providing the assurance required by institutional investors.
