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OKX collaborates with Standard Chartered to strengthen institutional digital asset custody, addressing security needs and enhancing service offerings for clients.
Key Notes
- OKX partners with Standard Chartered as a third-party custodian for digital assets.
- The collaboration aims to bridge traditional finance with digital assets.
- Standard Chartered emphasizes its dedication to high safety and compliance standards.
OKX announced a partnership with Standard Chartered for secure self-custody of digital assets, showing its commitment to innovation and safety.
The exchange noted that the collaboration falls into its mission of bringing together both the traditional finance space and the digital asset while giving its users the chance to separate trading from custody. OKX said:
“The partnership is part of our larger vision of bridging the gap between traditional finance and the digital asset world by giving clients a choice to separate trading from custody. Our institutional services already include advanced trading features, robust risk management tools, and custody solutions. Adding Standard Chartered to our custody offerings allows us to integrate digital assets more seamlessly into the traditional financial ecosystem.”
Meeting Institutional Demand for Secure Digital Asset Custody
The collaboration will play a key role in enhancing OKX’s offerings for institutional clients exploring digital assets. Research commissioned by OKX in collaboration with Economist Impact revealed that 80% of hedge funds engaged in digital assets rely on third-party custodians, showing the need for a clear separation between trading and asset custody.
OKX Global Chief Commercial Officer Lennix Lai shared that Standard Chartered was chosen as an institutional partner to strengthen OKX’s offerings and promote the integration of digital assets within the traditional financial ecosystem. Lennix remarked:
“We selected Standard Chartered as an institutional custodian partner to enhance our offering and accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s extensive global banking expertise and unwavering commitment to security aligns with our objective to provide exceptional crypto services and reinforces the confidence of our institutional clients in managing their digital assets. “
Standard Chartered’s Role in Advancing Crypto Custody Standards
Margaret Harwood-Jones, Standard Chartered’s Global Head of Financing & Securities Services, expressed their dedication to offering custodial services that meet the highest safety and compliance standards. She noted that being OKX’s third-party custodian allows Standard Chartered to expand further into the cryptocurrency space while providing institutional investors with the assurance they need.
The collaboration between these two entities sends a clear signal to the market. According to OKX, Standard Chartered’s involvement not only shows its commitment to providing a crypto custody solution but also aims to set a new industry standard. OKX emphasized its focus on building a mature, accessible environment for institutions in the crypto space.
This partnership is just the beginning, with further initiatives planned to position OKX as the top choice for institutional investors in the digital asset space worldwide.
“This partnership is just one of many steps we are taking to lead the digital asset revolution and to make OKX the go-to platform for institutional investors worldwide. With this latest development, we’re well on our way to making that future a reality for institutions across the globe,” Lennix stated.
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