OKX, a cryptocurrency alternate and onchain expertise
firm, introduced in the present day that it has chosen Commonplace Chartered as a
third-party crypto custodian for its international institutional enterprise. Commonplace
Chartered gives cross-border monetary providers connecting varied markets
worldwide.
Commonplace Chartered Joins OKX Custody
The settlement provides to OKX’s providers for institutional
shoppers, which embrace superior buying and selling instruments, danger administration assets, and
safe custody choices. OKX plans to leverage Commonplace Chartered’s international
banking expertise and danger administration practices to increase its
custody choices for institutional buyers.
“We’re dedicated to providing custodial providers that
meet the very best requirements of security and compliance,” Commonplace Chartered International
Head of Financing & Securities Companies Margaret Harwood-Jones stated.
“Serving as OKX’s third-party custodian permits us to increase
our experience into the evolving cryptocurrency sector, offering institutional
buyers with the peace of mind they require.”
⚡️ BREAKING: #OKX has partnered with Commonplace Chartered as a third-party custodian to strengthen its providers for institutional shoppers.#StandardChartered #Blockchain #CryptoNews pic.twitter.com/iBUTf6CckV
— Coin Version: Your Crypto Information Edge ️ (@CoinEdition) October 29, 2024
In the meantime, OKX has launched its buying and selling
platform for retail and institutional buyers within the United Arab Emirates
after acquiring a full working license from the UAE’s Digital Belongings
Regulatory Authority, as reported by Finance
Magnates.
Examine Highlights Institutional Demand
This partnership goals to boost institutional involvement
in digital belongings. It additionally aligns with findings in an OKX-commissioned report
by Economist Influence, titled “Digital Belongings because the New Various for
Institutional Traders: Market Dynamics, Alternatives and Challenges.”
The report highlights the rising enchantment of digital belongings
for establishments and notes that 80% of hedge funds partaking in digital belongings
use third-party custodians, underscoring a requirement for separate commerce execution
and asset custody.
OKX International Chief Business Officer Lennix Lai stated: “Commonplace
Chartered’s intensive international banking experience and unwavering dedication to
safety aligns with our goal to offer distinctive crypto providers and
reinforces the arrogance of our institutional shoppers in managing their
digital belongings.”
This text was written by Tareq Sikder at www.financemagnates.com.