OKX and Standard Chartered Join Forces for Secure Crypto Custody

OKX partners with Standard Chartered to offer secure, third-party crypto custody for institutional investors, setting a new standard in crypto security.

Crypto exchange OKX has partnered with Standard Chartered to provide secure, third-party custody solutions for institutional investors, aiming to raise the bar in crypto custody security. This collaboration brings together OKX’s expertise in cryptocurrency with Standard Chartered’s strong reputation in traditional banking, a combination designed to inspire trust among institutional clients.

OKX’s Chief of Security highlighted the partnership as a milestone, emphasizing the importance of trust and assurance for institutional investors entering the crypto market. By teaming up with a prominent bank, OKX seeks to establish a new industry standard, catering to the demand for secure third-party custody solutions, which are preferred by 80% of institutional investors, according to OKX research. The firm believes this move will play a critical role in supporting the increasing trend of institutional adoption of crypto assets.

This partnership aligns well with both firms’ strategies, as OKX continues to expand its presence in major financial hubs. Recently, the exchange has made notable strides globally, launching operations in the UAE and receiving regulatory approval in Singapore. Headquartered in Hong Kong, OKX now has a solid footprint in key financial centers that also have strong ties to Standard Chartered, underscoring the strategic value of this alliance.

Standard Chartered has shown a growing interest in the crypto sector, even forecasting a $100,000 Bitcoin price in 2024 and broadening its own crypto trading services. The combined strengths of OKX and Standard Chartered aim to provide robust infrastructure and reliable security, setting a benchmark in the custody market as institutional interest in crypto continues to rise. While the exact technical details of the custody solutions were not disclosed, both companies are committed to building trust and ensuring the highest security standards for their clients.