OKX Taps Standard Chartered to Deliver Bank-Level Security for Institutional Investors in Europe
OKX has introduced the growth of its partnership with Standard Chartered Bank into the European Economic Area (EEA), because it prolonged a collaboration that first started in the United Arab Emirates earlier this yr. The transfer introduces OKX’s collateral mirroring programme to institutional purchasers throughout Europe, which permits customers to maintain their property securely with Standard Chartered, a Global Systemically Important Bank (G-SIB), whereas sustaining corresponding balances on OKX for buying and selling functions.
The association allows establishments to profit from each bank-grade custody and direct entry to digital asset markets, successfully lowering counterparty threat and enhancing buying and selling effectivity.
OKX Expansion
With the newest collaboration, Standard Chartered has grow to be the primary and solely G-SIB to accomplice straight with a crypto alternate. OKX said the growth depicts rising regulatory confidence in the mannequin and signifies a push towards aligning crypto market infrastructure with established monetary requirements. The partnership’s rollout in the EEA is anticipated to present institutional purchasers with a unified framework for safe, compliant, and scalable digital asset administration throughout Europe.
Standard Chartered’s Global Head of Financing and Securities Services, Margaret Harwood-Jones, mentioned the initiative combines the financial institution’s present custody infrastructure with OKX’s regulatory framework to guarantee “the best requirements of safety and compliance for institutional purchasers in Europe.”
The alternate additionally highlighted that the partnership builds on its long-term dedication to Europe, supported by its Markets in Crypto-Assets (MiCA) license.
From EU Investigations to US Relaunch
In March, Bloomberg had reported that OKX’s decentralized buying and selling and self-custody platforms are reportedly underneath scrutiny by European regulators after being linked to the laundering of $1.5 billion stolen in the Bybit hack by North Korea’s Lazarus Group. The alternate denied the allegations, even because the report urged that it might threat dropping the MiCA license granted earlier this yr.
After regulatory challenges in Europe, OKX made a push to re-establish itself in the United States. In April, the alternate announced it was reopening its US crypto platform and introducing a multi-chain Web3 pockets, following a $505 million settlement with the Department of Justice earlier this yr.
OKX appointed Roshan Robert as US CEO and arrange headquarters in San Jose, California.
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