OKX, a cryptocurrency exchange and global onchain technology company, has selected Standard Chartered, an international cross-border bank that connects the world’s most dynamic markets, as a third-party crypto custodian for its worldwide institutional business.
OKX’s extensive range of institutional services, which includes sophisticated trading capabilities, strong risk management tools, and improved custody solutions, has been significantly expanded by the custody arrangement with Standard Chartered.
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With the help of Standard Chartered’s vast worldwide banking experience and strict risk management system, OKX hopes to provide institutional investors with a wider selection of safe and dependable custody options.
Increased institutional participation in the digital asset market is anticipated as a result of this partnership, which will help create a more developed environment for institutions around the world.
It supports the conclusions of a newly released research brief, “Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges,” written by Economist Impact on behalf of OKX.
Moreover, the brief illustrates institutional investors’ belief that digital assets represent an unavoidable institutional opportunity. The study also revealed that third-party custodians are used by 80% of traditional and cryptocurrency hedge funds that use digital assets, underscoring the considerable demand for asset custody and trade execution segregation.
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By GlobalDataOKX global chief commercial officer Lennix Lai stated: “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.”
Margaret Harwood-Jones, global head of financing & securities services, Standard Chartered, added: “We are committed to offering custodial services that meet the highest standards of safety and compliance. Serving as OKX’s third-party custodian allows us to extend our expertise into the evolving cryptocurrency sector, providing institutional investors with the assurance they require.”
