Core Insights - Standard Chartered has expanded its partnership with OKX to provide a custody solution for institutions in the European Economic Area, allowing them to trade crypto without direct deposits to an exchange [1][6] - The custody service is designed to minimize risk for institutions making large trades, as it secures assets with bank-grade custody [2][4] - The partnership aims to build institutional trust in crypto trading, especially in light of past incidents like the FTX collapse, which have made institutions wary of platform risk [4][6] Group 1 - The custody solution enables institutions to trade crypto while their assets are secured by Standard Chartered, enhancing trust in the trading process [1][6] - The partnership initially launched in the UAE and targets institutions making eight- or nine-figure trades, addressing their concerns about risk exposure [2] - OKX provides liquidity by mirroring crypto deposits on its platforms, ensuring that institutions can trade effectively while their collateral is secured [3] Group 2 - The ability to trade large amounts of crypto without relying on a centralized exchange is appealing to institutions concerned about security [4] - Institutional trust in crypto exchanges has been diminished due to previous hacks and insolvencies, making this new product a significant development [4] - The new custody solution is expected to mitigate risks and restore confidence among institutional investors in the crypto market [4][6]
OKX and Standard Chartered Bring Collateral Mirroring to Europe