OKX, the crypto exchange, has partnered with Standard Chartered, appointing the banking giant as a third-party custodian for its institutional services. This partnership will enhance OKX’s offerings, including advanced trading capabilities, risk management tools, and custody solutions tailored for institutional investors. The addition of Standard Chartered is expected to enhance the security and reliability of OKX’s custody solutions. The exchange aims to attract more institutional investors by leveraging Standard Chartered’s banking expertise and risk management framework. OKX selected Standard Chartered to accelerate the integration of digital assets within the traditional financial ecosystem. Standard Chartered’s global banking expertise and commitment to security align with OKX’s objective to provide exceptional crypto services. According to recent research, 80% of traditional and crypto hedge funds use third-party custodians to manage their digital assets. Standard Chartered recently launched its crypto custody services in the UAE, where it has been granted a license to operate within the Dubai International Financial Centre. OKX has chosen Malta as its hub for MiCA compliance within the European Union due to the country’s high regulatory standards and progressive approach to blockchain and cryptocurrencies. The exchange has also secured a Major Payment Institution license in Singapore and launched operations in Australia. However, it has withdrawn its VASP license application in Hong Kong and ceased its services there.
