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AltcoinsOKX and Standard Chartered Collaborate to Provide Institutional Crypto Custody

OKX and Standard Chartered Collaborate to Provide Institutional Crypto Custody

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OKX has announced a significant partnership with Standard Chartered, marking a milestone in the world of institutional crypto custody solutions. Led by OKX Chief Commercial Officer Lennix Lai, this collaboration positions Standard Chartered as a third-party crypto custodian for OKX’s institutional clients. By joining forces, OKX and Standard Chartered demonstrate their commitment to security, trust, and innovation in the digital asset space, while also bridging the gap between traditional finance and the evolving crypto ecosystem.

As a global on-chain technology company, OKX understands the unique needs of institutional investors in the crypto space. These investors now view digital assets as viable opportunities within diversified portfolios, rather than just speculative investments. However, they require robust security protocols, especially when it comes to asset custody. OKX aims to address these concerns and build investor trust by partnering with Standard Chartered, a leading international bank and one of the first global systemically important banks (G-SIBs) to enter the crypto custody arena.

This partnership allows OKX to offer a clear separation between trading and custody for its institutional clients, enhancing its services even further. Currently, OKX provides advanced trading features, comprehensive risk management tools, and sophisticated custody solutions to its institutional clients. By integrating Standard Chartered into its custodial framework, OKX can provide a secure, traditional financial layer to digital asset management. This layer is essential for institutions seeking confidence and security in their crypto investments.

Standard Chartered’s role in this partnership signals the growing maturity of the market. Research commissioned by OKX in collaboration with Economist Impact reveals that 80% of hedge funds and financial institutions investing in digital assets prefer third-party custodians. This increasing demand underscores the need for a clear separation of duties between trade execution and asset custody, a model that OKX embraces through partnerships with reputable institutions like Standard Chartered. OKX not only prioritizes security but also aims to create a seamless interface between traditional financial institutions and the crypto space. This empowers institutional players to engage more freely and confidently.

Standard Chartered’s involvement in this partnership sends a powerful message to the market, highlighting the growing acceptance of digital assets within traditional financial structures. This collaboration positions OKX as a leader in the digital asset space, setting new standards in custodial services for institutional clients. It also indicates a maturing crypto market where robust security and regulatory compliance are of utmost importance, qualities that institutional investors prioritize.

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