OKX Strengthens Institutional Crypto Services with New Custody Partner
In a pivotal move to enhance security and trust in institutional crypto management, OKX has officially partnered with global banking giant Standard Chartered. This collaboration is set to bolster OKX’s custody solutions for institutional clients by providing a more secure, regulated way to manage digital assets.
Standard Chartered Enters Crypto Custody Market
The partnership follows Standard Chartered’s recent launch of its crypto custody services in the United Arab Emirates. After receiving a license from the Dubai Financial Services Authority (DFSA) in September 2023, the bank introduced its custody business in the Dubai International Financial Centre (DIFC), marking its formal entry into the digital asset space. This move signals the growing acceptance of cryptocurrency by traditional financial institutions.
Bridging the Gap Between Traditional Finance and Crypto
Lennix Lai, Chief Commercial Officer of OKX, emphasized that this partnership aims to bridge the gap between traditional finance and the cryptocurrency sector. According to Lai, institutional investors are increasingly seeking reliable custody solutions to manage their crypto assets securely. “By partnering with a globally recognized banking institution like Standard Chartered, we are setting a new benchmark in crypto custody,” Lai stated.
⚡️ 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
A New Standard in Institutional Crypto Custody
Standard Chartered’s entry into the crypto space adds a layer of credibility and trust to OKX’s services. The partnership is part of OKX’s broader vision to offer secure custody solutions, allowing institutional clients to separate trading and custody. As one of the first global systemically important banks (G-SIBs) to embrace crypto custody, Standard Chartered’s involvement is expected to reassure institutional clients about the safety of their digital assets.
Expanding OKX’s Institutional Services
In addition to enhanced custody services, OKX provides a comprehensive range of tools and services for institutional clients. These include advanced API trading capabilities, risk management solutions, lending programs, Ethereum 2.0 staking, and market maker services. By partnering with Standard Chartered, OKX reinforces its commitment to offering secure and efficient solutions for institutional crypto investors.
