OKX, a global cryptocurrency exchange, today announced a significant partnership with Standard Chartered Bank, one of Hong Kong’s three major note-issuing banks and a globally recognized financial institution. Standard Chartered will serve as a third-party custodian for OKX’s institutional clients, providing enhanced security and trust for their digital assets.
This collaboration marks a significant step in the maturation of the institutional cryptocurrency market. As institutional interest in digital assets continues to grow, the need for robust and secure custody solutions becomes paramount. OKX’s partnership with Standard Chartered directly addresses this need, offering institutional investors the assurance of a reputable and established financial institution safeguarding their assets.
“As we continue to evolve as a leading global on-chain technology company, offering more secure and scalable solutions for institutions is key,” stated OKX in their official announcement. “This partnership helps us enhance our offering to institutional clients who are increasingly looking to digital assets as a new alternative opportunity.”
OKX emphasized the importance of trust in the institutional space, highlighting Standard Chartered’s reputation and its early adoption of cryptocurrency custody among global systemically important banks (G-SIBs). The exchange believes that this alignment will instill confidence in institutional investors seeking to diversify their portfolios with digital assets.
The partnership underscores a growing trend in the industry. Citing a research report commissioned with Economist Impact, OKX noted that 80% of traditional and crypto hedge funds utilizing digital assets rely on third-party custodians.
