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OKX Partners with Standard Chartered to Provide Regulated Crypto Custody in Europe

OKX and Standard Chartered strengthen their collaboration to offer a new service in the EEA, allowing institutional investors to reduce counterparty risk and enhance asset security.

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Fact Check
The statement is directly and consistently confirmed across multiple credible sources, including official announcements from OKX on its website and LinkedIn page. Financial news outlets like Finextra, Yahoo Finance, and Funds Europe corroborate that OKX has partnered with Standard Chartered to integrate the bank's regulated custody services for its European institutional clients.
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Summary

OKX has expanded its partnership with Standard Chartered to launch a new service in the European Economic Area, offering institutional investors a secure method of holding assets with Standard Chartered while reflecting balances on OKX. The move aims to reduce counterparty risk and improve asset security by separating asset custody from trading.

Terms & Concepts
  • Crypto Custody: A service that securely holds and manages digital assets on behalf of clients, ensuring protection from theft or loss.
  • Institutional Services: Financial products and solutions designed specifically for professional investors, banks, and large organizations in the cryptocurrency sector.
  • Regulated Custody: Custody services that comply with specific legal and regulatory requirements, providing security and transparency for digital asset holdings.