Standard Chartered to custody crypto for OKX institutional clients in Europe
October’s crypto crash has reignited the “Wild West” narrative, but OKX and Standard Chartered are here to prove it’s not the case, OKX Europe’s Erald Ghoos said.
Standard Chartered, a major global banking group, is deepening ties with cryptocurrency exchange OKX, becoming its institutional custodian in the European Economic Area (EEA).
Standard Chartered and OKX launched a collateral mirroring program in the EEA, allowing local institutional clients to keep their crypto directly in Standard Chartered’s custody, OKX announced on Wednesday.
The launch marks an expansion of a pilot initially launched in Dubai in April, aiming to enable institutions to keep their assets with a globally systemically important bank (G-SIB) while mirroring the balances into OKX for trading.