Standard Chartered has announced a strategic alliance with OKX, aiming to provide a compliant and secure framework for institutional crypto trading across Europe. The partnership marks a significant expansion of their existing arrangement, which has seen success in the UAE, with over $100 million in assets under custody accumulated since its launch earlier this year.
The collaboration seeks to integrate regulated bank custody services with advanced crypto trading infrastructure. This enables institutional clients to hold their assets securely with Standard Chartered while simultaneously allowing them to trade those assets on OKX in real time through a process called collateral mirroring. This innovative approach permits institutions to utilize their assets as collateral for trading without physically relocating them from the security of bank custody.
OKX’s MiCA license, which covers nine out of ten service categories, designates the exchange as a regulated market operator in the European Union, facilitating a more secure trading environment for institutional investors eager to explore the digital asset landscape.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, emphasized the significance of this expansion, stating that it represents a major milestone in their collaboration with OKX. She reinforced the commitment to high standards of security and compliance for institutional clients in Europe, leveraging Standard Chartered’s established custody infrastructure alongside OKX’s regulatory framework.
Iskandar Vanblarcum, Vice President of Institutional Sales & Business Development at OKX, echoed her sentiments, highlighting that the MiCA license and the expanded custody partnership exemplify OKX’s dedication to fostering a trustworthy and fully regulated marketplace in Europe. He noted that with MiCA setting clear regulatory standards, institutional clients can confidently deploy capital in a secure environment while benefiting from innovative solutions, such as collateral mirroring, to trade more efficiently.
This partnership signals a continuing trend of traditional financial institutions embracing the rapidly evolving cryptocurrency sector, providing institutional clients with the necessary tools and security to engage in digital asset trading.
