OKX Names Standard Chartered as an Institutional Third-Party Custody Partner

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Oct 29, 2024, 04:00 ET

DUBAI, UAE, Oct. 29, 2024 /PRNewswire/ -- OKX, a leading cryptocurrency exchange and global onchain technology company, today announced the appointment of Standard Chartered, a leading international cross-border bank connecting the world's most dynamic markets, as a third-party crypto custodian for its global institutional business.

The custody agreement with Standard Chartered is a significant addition to OKX's comprehensive suite of institutional services, which includes advanced trading capabilities, robust risk management tools and enhanced custody solutions. By leveraging Standard Chartered's extensive global banking expertise and rigorous risk management framework, OKX aims to offer institutional investors a broader range of secure and reliable custody solutions.

OKX Global Chief Commercial Officer Lennix Lai said: "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 Global Head of Financing & Securities Services Margaret Harwood-Jones said "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."

This collaboration is expected to attract increased institutional participation in the digital asset market, contributing to a more mature environment for institutions globally. It aligns with the findings of a recently published OKX-commissioned research brief authored by Economist Impact, entitled "Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges," which highlights institutional investors' view that digital assets are an inevitable institutional opportunity. The report also finds that 80% of traditional and crypto hedge funds utilizing digital assets employ third-party custodians, highlighting strong demand for segregation of duties related to trade execution and asset custody.

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For further information, please contact:
[email protected]

Wasim Benkhadra
Global Communications Lead, Corporate & Investment Banking (CIB)
Head of Communications, UAE, ME & Pakistan and Africa
Standard Chartered
+9714 5083221
[email protected]

Kate Matthews
Communications Director, Europe
Standard Chartered
+44 20 7885 7899
[email protected]

About OKX Institutional

OKX Institutional is a global leader trusted by international firms and counterparties, and provides a powerful suite of institutional crypto trading solutions such as an on-demand OTC liquidity network, structured products and managed accounts. OKX infrastructure is built for institutional traders, with unified account systems, integration with leading custodians and low-latency APIs.

With industry leading monthly Proof-of-Reserves and trading volumes, deep liquidity, and 99.99% uptime, OKX combines top-tier security with speed and reliability. It offers access to over 700 spot trading pairs, 280+ derivatives instruments, and up to 125x leverage on leading futures contracts.

To learn more about OKX Institutional, visit: okx.com/institutions or contact [email protected] to accelerate your institutional crypto trading objectives.

About Standard Chartered

We are a leading international banking group, with a presence in 53 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

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SOURCE OKX