- OKX pronounces partnership with Commonplace Chartered to supply crypto custody providers to institutional shoppers.
- Commonplace Chartered has a powerful presence within the crypto trade.
- A buying and selling desk and custody resolution are amongst its prime options.
OKX has partnered with Commonplace Chartered in a collaboration that can see the banking large grow to be the crypto trade’s official third-party crypto custodian.
Particularly, Commonplace Chartered is now the crypto custodian for OKX’s institutional shoppers.
We’re difficult the established order and constructing for the longer term.
To reinforce our providing, we’ve partnered with @StanChart as our third-party custodian for institutional shoppers.
Extra on our dedication to safety and innovation in crypto: https://t.co/jFrF5lCnsq pic.twitter.com/FNiAD3U2KW
— OKX (@okx) October 29, 2024
OKX eyes additional institutional adoption of crypto
Based on OKX chief business officer Lennix Lai, the partnership is a part of the crypto trade’s continued evolution into one of many world’s prime crypto firms. Commonplace Chartered will assist the trade provide its institutional prospects a platform to securely enter the rising digital property market.
The partnership permits shoppers the choice of separating their buying and selling from custody, Lai added.
“Our institutional providers already embrace superior buying and selling options, sturdy danger administration instruments, and custody options. Including Commonplace Chartered to our custody choices permits us to combine digital property extra seamlessly into the normal monetary ecosystem, making it simpler for institutional gamers to interact confidently on this house.”
Collaboration with OKX provides to Commonplace Chartered’s rising footprint within the crypto house. Its current enlargement consists of the launch of a digital asset custody resolution within the United Arab Emirates. The financial institution’s crypto custody service permits institutional shoppers to custody Bitcoin (BTC) and Ethereum (ETH), with extra property to be added.
Notably, Commonplace Chartered additionally gives a spot crypto buying and selling desk, and has a footprint within the Ethereum exchange-traded fund market.
