OKX announces Standard Chartered Bank as a third-party institutional custodian partner

On October 29, Digital Currency Trading, a global leader in Web 3 technology, announced the appointment of Standard Chartered Bank as the third-party digital asset custodian for its global institutional business. Standard Chartered Bank is an international leading cross-border bank connecting major global markets.

OKX provides comprehensive services for institutional users, including advanced trading features, powerful Risk Management tools, and an upgraded custody solution. The signing of the custody protocol with Standard Chartered Bank is a strong complement to these services. Leveraging Standard Chartered Bank's extensive global banking experience and rigorous Risk Management system, OKX aims to provide institutional investors with more secure and reliable custody solutions.

Lennix Lai, the Chief Commercial Officer of OKEx, said: "We have chosen Standard Chartered Bank as our institutional custody partner to optimize services and promote the Depth integration of digital assets and TradFi ecosystems. Standard Chartered Bank's rich global banking experience and firm commitment to security are highly consistent with OKEx's goal of providing excellent Digital Money services, which helps to enhance institutional clients' confidence in digital asset management."

Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, said: "We are committed to providing custody services that meet the highest security and compliance standards. As a third-party custodian for OKX, we are able to apply our expertise in the ever-evolving field of Digital Money to ensure the safety of institutional investors."

This collaboration is expected to attract more institutions to enter the digital asset market, creating a more mature environment for global institutions. This is consistent with the findings of the recent 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 see digital assets as an opportunity not to be missed. In addition, the report also found that 80% of the traditional and digital money hedging funds using digital assets choose third-party custody institutions, demonstrating a strong demand for the separation of trading execution and asset custody responsibilities.