OKX has announced a strategic partnership with Standard Chartered Bank, appointing the global financial institution as a third-party cryptocurrency custodian for its institutional clients.
OKX said in an official statement that it was important to work with a reputable institution like Standard Chartered. The bank, which is one of Hong Kong’s three major bond issuing banks and has a significant position in international banking, claims to provide the level of assurance that institutional investors are looking for.
“Institutional investors need assurance and we provide them with assurance by working with such a respected bank,” the stock exchange said in a statement.
Describing this development as “a new milestone in institutional crypto custody,” OKX said that the importance of secure and scalable solutions for institutional clients is increasing. According to the official blog post, as the cryptocurrency market matures, digital assets are no longer perceived as mere speculative investments but are emerging as essential components of diversified portfolios.
OKX cited findings from a report by Economist Impact, which revealed that 80% of traditional and crypto hedge funds using digital assets rely on third-party custodians.
*This is not investment advice.