- OKX publicizes partnership with Commonplace Chartered to supply cryptocurrency custody companies to institutional purchasers.
- Commonplace Chartered has a powerful presence within the crypto business.
- Its high options embody buying and selling desk and custody options.
OKX has partnered with Commonplace Chartered in a collaboration that may see the banking big develop into the official custodian of a third-party crypto change.
Particularly, Commonplace Chartered is now the crypto custodian for OKX's institutional purchasers.
We problem the established order and construct for the long run.
To enhance our supply, we’ve partnered with @StanChart as our third get together administrator for institutional purchasers.
Be taught extra about our dedication to crypto safety and innovation: https://t.co/jFrF5lCnsq pic.twitter.com/FNiAD3U2KW
— OKX (@okx) October 29, 2024
OKX is eyeing additional institutional adoption of cryptocurrencies
In response to OKX Chief Business Officer Lennix Lai, the partnership is a part of the crypto change's continued evolution into one of many world's high crypto firms. Commonplace Chartered will assist the change supply its institutional prospects a platform to securely enter the rising digital asset market.
The partnership permits purchasers to separate their buying and selling from custody, Lai added.
“Our institutional companies already embody superior buying and selling features, sturdy danger administration instruments and custody options. The addition of Commonplace Chartered to our custody choices allows us to extra seamlessly combine digital belongings into the normal monetary ecosystem, making it simpler for institutional gamers to confidently have interaction on this area.
Working with OKX provides to Commonplace Chartered's rising footprint within the crypto area. Its current enlargement consists of the launch of a digital asset custody answer within the United Arab Emirates. The financial institution's cryptocurrency custodial service permits institutional purchasers to carry Bitcoin (BTC) and Ethereum (ETH), with different belongings to be added.
Notably, Commonplace Chartered additionally provides a venue for immediate cryptocurrency buying and selling and has a footprint within the Ethereum exchange-traded fund market.
