OKX picks Standard Chartered as its institutional crypto custodian

• OKX announces partnership with Standard Chartered to offer crypto custody services to institutional clients.
• Standard Chartered has a strong presence in the crypto industry.
• A trading desk and custody solution are among its top solutions.

OKX has partnered with Standard Chartered in a collaboration that will see the banking giant become the crypto exchange’s official third-party crypto custodian.

Specifically, Standard Chartered is now the crypto custodian for OKX’s institutional clients.

We’re challenging the status quo and building for the future.

To enhance our offering, we’ve partnered with @StanChart as our third-party custodian for institutional clients.

More on our commitment to security and innovation in crypto: https://t.co/jFrF5lCnsq pic.twitter.com/FNiAD3U2KW

— OKX (@okx) October 29, 2024

OKX eyes further institutional adoption of crypto

According to OKX chief commercial officer Lennix Lai, the partnership is part of the crypto exchange’s continued evolution into one of the world’s top crypto companies. Standard Chartered will help the exchange offer its institutional customers a platform to securely enter the growing digital assets market.

The partnership allows clients the option of separating their trading from custody, Lai added.

“Our institutional services already include advanced trading features, robust risk management tools, and custody solutions. Adding Standard Chartered to our custody offerings allows us to integrate digital assets more seamlessly into the traditional financial ecosystem, making it easier for institutional players to engage confidently in this space.”

Collaboration with OKX adds to Standard Chartered’s growing footprint in the crypto space. Its recent expansion includes the launch of a digital asset custody solution in the United Arab Emirates. The bank’s crypto custody service allows institutional clients to custody Bitcoin (BTC) and Ethereum (ETH), with more assets to be added.

Notably, Standard Chartered also offers a spot crypto trading desk, and has a footprint in the Ethereum exchange-traded fund market.