OKX Taps Standard Chartered to Deliver Bank-Level Security for Institutional Investors in Europe

OKX has strengthened its European footprint with Commonplace Chartered.

OKX has introduced the growth of its partnership with Commonplace Chartered Financial institution into the European Financial Space (EEA), because it prolonged a collaboration that first started within the United Arab Emirates earlier this 12 months. The transfer introduces OKX’s collateral mirroring programme to institutional shoppers throughout Europe, which permits customers to carry their belongings securely with Commonplace Chartered, a World Systemically Vital Financial institution (G-SIB), whereas sustaining corresponding balances on OKX for buying and selling functions.

The association allows establishments to learn from each bank-grade custody and direct entry to digital asset markets, successfully decreasing counterparty threat and enhancing buying and selling effectivity.

OKX Enlargement

With the newest collaboration, Commonplace Chartered has develop into the primary and solely G-SIB to accomplice instantly with a crypto alternate. OKX said the growth depicts rising regulatory confidence within the mannequin and signifies a push towards aligning crypto market infrastructure with established monetary requirements. The partnership’s rollout within the EEA is predicted to offer institutional shoppers with a unified framework for safe, compliant, and scalable digital asset administration throughout Europe.

Commonplace Chartered’s World Head of Financing and Securities Providers, Margaret Harwood-Jones, mentioned the initiative combines the financial institution’s current custody infrastructure with OKX’s regulatory framework to make sure “the best requirements of safety and compliance for institutional shoppers in Europe.”

The alternate additionally highlighted that the partnership builds on its long-term dedication to Europe, supported by its Markets in Crypto-Belongings (MiCA) license.

From EU Investigations to US Relaunch

In March, Bloomberg had reported that OKX’s decentralized buying and selling and self-custody platforms are reportedly underneath scrutiny by European regulators after being linked to the laundering of $1.5 billion stolen within the Bybit hack by North Korea’s Lazarus Group. The alternate denied the allegations, even because the report instructed that it could threat dropping the MiCA license granted earlier this 12 months.

After regulatory challenges in Europe, OKX made a push to re-establish itself in america. In April, the alternate announced it was reopening its US crypto platform and introducing a multi-chain Web3 pockets, following a $505 million settlement with the Division of Justice earlier this 12 months.

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