OKX Partners with Standard Chartered for Institutional Crypto Custody Solutions
Crypto exchange OKX has partnered with Standard Chartered to deliver secure third-party custody solutions for institutional investors, enhancing crypto custody security. This collaboration combines OKX’s cryptocurrency expertise with Standard Chartered’s established reputation in traditional banking, aimed at building trust among institutional clients.
OKX’s Chief of Security described the partnership as a milestone, highlighting the significance of trust and assurance for institutional investors entering the crypto market. By collaborating with a prominent bank, OKX aims to set a new industry standard, addressing the demand for secure third-party custody solutions preferred by 80% of institutional investors, per OKX research. This initiative is expected to support the growing trend of institutional adoption of crypto assets.
This partnership aligns with both firms’ strategies as OKX expands its presence in major financial hubs. The exchange has launched operations in the UAE and received regulatory approval in Singapore. Headquartered in Hong Kong, OKX now maintains a solid footprint in key financial centers that have strong ties to Standard Chartered, underscoring the strategic value of this alliance.
Standard Chartered has demonstrated increasing interest in the crypto sector, forecasting a $100,000 Bitcoin price in 2024 while expanding its crypto trading services. The combined strengths of OKX and Standard Chartered aim to offer robust infrastructure and reliable security, establishing a benchmark in the custody market as institutional interest in crypto rises. Although specific technical details of the custody solutions were not disclosed, both companies are committed to building trust and maintaining high-security standards for their clients.