On October 29, OKX, a leading global digital currency trading and Web 3 technology company, announced that it has appointed Standard Chartered Bank as a third-party digital asset custodian for its global institutional business. Standard Chartered Bank is a leading international cross-border bank connecting important markets around the world.
OKX provides comprehensive services for institutional users, including advanced trading functions, powerful risk management tools and upgraded custody solutions. The custody agreement signed with Standard Chartered Bank is a powerful supplement to these services. Relying on Standard Chartered Bank's rich global banking experience and strict risk management system, OKX aims to provide more safe and reliable custody solutions for institutional investors.
Lennix Lai, Global Chief Commercial Officer of OKX, said: “We chose Standard Chartered as our institutional custody partner to optimize our services and promote the deep integration of digital assets into the traditional financial ecosystem. Standard Chartered’s rich global banking experience and firm commitment to security are highly consistent with OKX’s goal of providing excellent digital currency services, which will help enhance institutional clients’ confidence in digital asset management.”
Margaret Harwood-Jones, Head of Global Financing and Securities Services at Standard Chartered Bank, said: “ We are committed to providing custody services that meet the highest standards of security and compliance. As OKX’s third-party custodian, we are able to apply our expertise in the evolving digital currency space to provide institutional investors with assurance.”
The collaboration is expected to attract more institutions to the digital asset market, creating a more mature environment for global institutions. This is consistent with the findings of the recently released research brief "Digital assets as the new alternative for institutional investors: market dynamics, opportunities and challenges" . The report, commissioned by OKX and written by Economist Impact, points out that institutional investors believe that digital assets are an opportunity not to be missed. In addition, the report also found that among all traditional and digital currency hedge funds using digital assets, 80% of the funds choose third-party custodians, showing a strong demand for the separation of transaction execution and asset custody responsibilities.
