Introduction
OKX has appointed Standard Chartered PLC as its third-party crypto custody provider for its global institutional business. This strategic partnership significantly enhances OKX's institutional service offerings, which include advanced trading capabilities, robust risk management tools, and secure custody solutions.
By leveraging Standard Chartered’s global banking expertise and rigorous risk management framework, OKX aims to provide institutional investors with a broader range of secure and reliable custody solutions.
Key Highlights of the Partnership
- Enhanced Custody Services: Standard Chartered’s custody solutions will integrate seamlessly with OKX’s institutional platform, ensuring secure asset management.
- Risk Management: The collaboration leverages Standard Chartered’s stringent risk protocols to safeguard institutional assets.
- Global Reach: Standard Chartered’s presence in emerging markets aligns with OKX’s expansion strategy.
About Standard Chartered PLC
Standard Chartered PLC is a leading banking group in emerging markets. Its operations include:
- Retail and Private Banking (51.8%): Traditional banking services, credit cards, consumer/mortgage loans, SME financing, and digital banking.
- Commercial, Corporate, and Investment Banking (47.3%): Corporate financing, structured products, treasury management, securities custody, and fund management.
- Other (0.9%).
As of 2023, the group held $497.4 billion in current deposits** and **$331.9 billion in current loans. Revenue distribution:
| Region | Revenue Share |
|-----------------------|--------------|
| Europe & Americas | 9.5% |
| Asia | 70.2% |
| Africa & Middle East | 16.2% |
| Other | 4.1% |
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FAQs
1. Why did OKX partner with Standard Chartered?
OKX selected Standard Chartered for its global reputation, robust risk management, and expertise in emerging markets, ensuring secure custody for institutional clients.
2. How does this benefit institutional investors?
Investors gain access to a trusted custody framework, reducing counterparty risks and enhancing asset security.
3. Will this partnership expand OKX’s market reach?
Yes, Standard Chartered’s presence in Asia, Africa, and the Middle East supports OKX’s global institutional growth.
4. Are there additional fees for custody services?
Fee structures will be communicated directly to institutional clients; OKX prioritizes transparency in all partnerships.
5. How does Standard Chartered ensure asset security?
The bank employs multi-layered encryption, regulatory compliance, and 24/7 monitoring to protect client assets.
Conclusion
This partnership underscores OKX’s commitment to providing institutional-grade custody solutions. By combining Standard Chartered’s banking infrastructure with OKX’s crypto expertise, the collaboration sets a new standard for secure digital asset management.
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