- OKX has named a new institutional crypto custody partner.
- The exchange said the partner will help add a layer of trust to its services.
- The partner launched a crypto custody business barely two months ago.
The crypto exchange OKX has named banking giant Standard Chartered as a digital asset custodian of its institutional clients.
The development came after the international cross-border bank launched its crypto custody service in the United Arab Emirates on September 10 after receiving a license from the Dubai Financial Services Authority (DFSA). Standard Chartered said the service would be offered within the Dubai International Financial Centre (DIFC), a leading global financial hub.
OKX Partners with Standard Chartered
According to an October 29 by OKX’s Chief Commercial Officer, Lennix Lai, the exchange’s partnership with Standard Chartered is part of a broader vision to bridge the gap between crypto and traditional finance by allowing institutional clients to separate trading from custody.
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OKX said the partnership allowed it to provide an additional layer of trust and assurance to its services, given Standard Chartered’s position as one of the first global systemically important banks (G-SIBs) to embrace digital asset custody.
“What excites me most about this partnership is the signal it sends to the market. Standard Chartered’s involvement means we’re not just offering another crypto custody solution—we’re setting a new standard. Institutional investors want assurance, and by teaming up with such a reputable bank, we’re giving them exactly that,” Lai stated.
Standard Chartered’s tie-up is a significant addition to OKX’s wide-ranging institutional digital asset services suite, including API trading capabilities, risk management tools, market maker and brokerage programs, lending, and Ethereum 2.0 staking.
Read about 21Shares’ partnership with Standard Chartered’s Zodia Custody:
21Shares Taps StanChart’s Firm for Crypto ETP Custody in Europe
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