OKX, a prominent cryptocurrency exchange and onchain technology company, has announced the appointment of Standard Chartered as its third-party crypto custodian for global institutional business. This partnership aims to enhance OKX's institutional services, which include advanced trading capabilities and robust risk management tools.
Lennix Lai, OKX Global Chief Commercial Officer, stated: “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.”
Margaret Harwood-Jones from Standard Chartered commented: “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 boost institutional participation in the digital asset market globally. It supports findings from an OKX-commissioned research brief by Economist Impact titled "Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges." The report highlights that 80% of traditional and crypto hedge funds using digital assets employ third-party custodians.
For further information or inquiries, contact Media@okx.com or representatives from Standard Chartered.